MANILA — Philippine fast food chain Jollibee Foods (JFC) is buying a controlling stake in one of South Korea’s largest coffee shop chains, Compose Coffee, to raise its brand profile across Asia.
Jollibee announced the deal in a filing to the Philippine Stock Exchange on Tuesday, which said that the Philippine company will take a 70% stake in the brand. The value of the acquisition is pegged at $238 million.
Source link : https://asia.nikkei.com/Business/Business-deals/Philippines-Jollibee-to-buy-South-Korea-s-Compose-Coffee-for-238m
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Publish date : 2024-07-02 01:26:00
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