Jollibee’s Milksha acquires 70% stake in Taiwan’s Moon Moon Food

It will purchase 980,000 shares at $3.22 per share.

Milkshop International Co., Ltd. (Milksha), a 51%-owned subsidiary of Jollibee Foods Corporation (JFC), has signed a deal to acquire a 70% stake in Tien Hsia Sheng Co., Ltd., the company behind Moon Moon Food.

Milksha will purchase 980,000 shares at $3.22 (NT$105.92) per share, based on Moon Moon Food’s 2023 net profit valuation.

“This strategic move reinforces Milksha’s position as a leader in the Tea segment in Taiwan by accretively integrating Moon Moon Food’s resources and complementary offerings to enhance ability to meet evolving customer needs, further strengthening scale, valuation and expanding consumer base of Milksha,” JFC said in a statement.

Moon Moon Food, renowned for its Chinese wellness soups, has been recognised by the Michelin Bib Gourmand for seven consecutive years. The brand operates 13 outlets in Taiwan and opened its first international branch in Singapore in 2024.