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Jollibee announces expansion plans for Compose Coffee by Dec 31, 2024?
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Jollibee Foods•Philippines•South Korea•Compose Coffee•Jollibee•Jollibee Foods Corporation•Tony Tan Caktiong
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Press releases from Jollibee Foods Corporation, news articles from reputable financial news sources
Story
Jollibee Foods to Acquire 70% Stake in South Korea’s Compose Coffee in $340 Million Deal
Jul 2, 2024, 09:39 AM
Jollibee Foods, the Philippines’ largest restaurant operator, will acquire a 70% stake in South Korea’s Compose Coffee. The acquisition is part of a deal valuing Compose Coffee at $340 million, with the transaction amounting to $238 million. The move is aimed at expanding Jollibee's coffee and tea business. Jollibee Foods Corporation chairman Tony Tan Caktiong stated that this acquisition will help the company become the fastest growing and leading value coffee player in South Korea.
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