Philippine fast food giant Jollibee Foods Corporation (JFC) has completed the acquisition of All Day Fresh, the operator of South Korea's largest all-you-can-eat hot pot chain Shabu All Day, in a deal worth approximately 130 billion won (US$88.6 million). The purchase gives JFC full ownership of a chain that operates 172 locations across South Korea and generates annual sales of around 480 billion won.

The deal received regulatory clearance from South Korea's Fair Trade Commission on April 16, a step JFC described as a key milestone. All Day Fresh has now been fully separated from its former parent company Myungryundang and incorporated into the Philippine conglomerate. JFC first announced the planned acquisition in February, citing an estimated payback period of two to three years. The company projects that Shabu All Day will add roughly 2% to JFC's overall revenues and 1% to its total store count.

Shabu shabu is a style of hot pot dining popular across East Asia in which thin slices of meat and vegetables are cooked by diners at the table in a simmering broth. All-you-can-eat shabu shabu has become a well-established dining format in South Korea, and Shabu All Day holds a leading position in that segment. JFC's global president and CEO Ernesto Tanmantiong said the investment