Comprehensive foreign reports: The Philippine fast food giant Happy Bee Foods (JFC) said on July 28 that it has signed an agreement with Singapore Huaxia to jointly invest 340 million pesos (about 7.4 million US dollars) to build a food processing plant in China. Happy Bee Company accounted for 70% of the equity, and Huaxia Company accounted for 30% of the equity.
The food processing plant is located in Shucheng County, Anhui Province, the PRC and covers an area of ​​4 hectares for 50 years of land use rights. It will provide corresponding products for each food company of Happy Bee Group. At present, Happy Bee has two chain restaurant brands in China - Yonghe and Wangzhuang. The company said that next year, Happy Bee will have a 55% stake in Sanpin Wang, which owns 34 restaurant chains in Nanning.
Happy Peak Chairman and Chief Executive Officer Caktiong earlier stated that this year, the company plans to invest 600 million in China and open 60 new stores.