Jollibee Says It Will Invest $41 Million in Overseas Expansion

Jollibee Foods Corp., the Philippines’ largest restaurant operator, will spend $41 million on overseas expansion in the U.S., China and other countries, as it looks beyond the domestic market for growth.

Manila-based Jollibee will spend $16 million to buy 20 Chowking Chinese restaurants in the U.S. from Fortune Food Service Co., and invest $25 million in a venture with Viet Thai International Joint Stock Co. in Vietnam, two separate stock exchange filings showed.