MANILA, Philippines — Jollibee Foods Corp. (JFC) is preparing to take its Vietnamese coffee powerhouse, Highlands Coffee, public. In a statement on Wednesday, March 4, 2026, the fast-food giant announced it is evaluating a standalone initial public offering (IPO) and listing for the brand in Vietnam, tentatively scheduled for the first quarter of 2027.
Since JFC acquired Highlands Coffee in 2012, the brand has seen explosive growth:
- Store Count: From just 56 stores at the time of purchase to nearly 1,000 stores today.
- Market Position: It is currently the largest coffee shop chain in Vietnam, serving as JFC’s primary coffee platform in the country.
The planned IPO is designed to “unlock shareholder value” and provide the brand with direct access to capital markets. JFC believes this will:
- Boost the brand’s corporate profile.
- Enable a sharper strategic and operational focus.
- Facilitate further expansion across Southeast Asia.
Vietnam’s equity market is rapidly maturing, with the government targeting 9 million retail investor accounts by 2025. JFC has already engaged international and local advisors to begin structuring the deal, though the company clarified that plans remain preliminary and are subject to market conditions and regulatory approvals.
Highlands Coffee is a key pillar in Jollibee Group’s global portfolio, which now includes over 10,000 stores across 33 countries.
