Jollibee Foods to take control of South Korea's Compose Coffee in US$340 million deal

Quick Summary:

The Philippines' biggest fast-food chain Jollibee Foods will acquire a majority stake in South Korea's Compose Coffee, as  part of a deal valuing the target at US$340 million, the company said on Tuesday (Jul 2).

Compose Coffee and its roasting facility were founded in Busan in 2014.

Known for its sweet-style spaghetti, burgers and fried chicken, Jollibee is dominant in the Philippines, outselling McDonald's and Yum Brands' KFC.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaSouth KoreaPhilippines

Topics: Compose Company Acquire Cent Coffee Manila 2019 Jollibee Million Philippines Foods

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-02 @ 17:54:20 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 381 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21459704

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Official Website: channelnewsasia.com

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News Last Updated: 54 minutes ago

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