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Tony Tan Caktiong makes major statement about acquisition by Sep 30, 2024?
3
Jollibee Foods•Philippines•South Korea•Compose Coffee•Jollibee•Jollibee Foods Corporation•Tony Tan Caktiong
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Positive Impact • 33%
Neutral Impact • 33%
Negative Impact • 33%
Press releases, interviews, or official statements from Jollibee Foods Corporation
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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Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Majority stake sold • 25%
Minority stake sold • 25%
No change in ownership • 25%
Company goes private • 25%
