In 1994, Jollibee Foods Corporation acquired 80% of Greenwich shares. Then, in 2006, Jollibee bought out the remaining shares of its partners in Greenwich for PHP384 million, giving rise to a new company known as the Greenwich Pizza Corporation. The franchise experienced rapid expansion from the original 50 stores in 1994 to over 240 stores with an annual revenue of over PHP4 billion in 2005. Expanding further through 2011, the corporation had opened over 330 stores.
^"Fresh N' Famous Foods Inc Company Profile". EMIS. Retrieved 1 November 2017. Fresh N' Famous Foods Inc, a subsidiary of Jollibee Foods Corporation (JFC) operates and franchises quick-service restaurants under the trade names "Chowking" and "Greenwich"; Red Ribbon Bakeshop, Inc.