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Key FactsPhilippine Jollibee Acquires South Korean Cafe Chain for $238m
Jul 2, 2024 · Reading time: ~15 sec.
Summary created with AI assistance · Source: asia.nikkei.com
  • Philippine fast food chain Jollibee Foods is purchasing a controlling stake in one of South Korea's largest coffee shop chains, Compose Coffee, to enhance its brand presence across Asia.

  • Jollibee announced the deal in a filing to the Philippine Stock Exchange, stating that the Philippine company will acquire a 70% stake in the brand. The acquisition is valued at $238 million.
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