Reported 12 months ago
Jollibee Foods, the largest fast-food chain in the Philippines, is set to acquire a 70% stake in South Korea's Compose Coffee for $238 million, with the remaining stake split between Jollibee's Titan Fund and private equity firm Elevation in a $340 million deal. This acquisition is Jollibee's largest by number of stores and enhances its global expansion strategy, adding 2,470 franchised stores to its network and providing access to South Korea's lucrative coffee market, which ranks third globally in per capita consumption. The move is seen as a positive step for Jollibee to increase its global presence and capitalize on growth opportunities in promising markets.
Source: YAHOO