Philippines’ JFC to acquire S. Korea’s Compose Coffee for $340m

Philippine fast-food giant Jollibee Foods Corporation (JFC) is acquiring a 70 per cent stake in South Korea’s top coffee chain, Compose Coffee, for $340 million.

This move will significantly expand JFC’s presence in Asia. The deal was announced on Tuesday through a filing with the Philippine Stock Exchange, surpassing the initial estimate of $238 million.

Attribution: The Nikkei Asia