Jollibee invests to acquire Coffee Bean and Tea Leaf

Jollibee invests to acquire Coffee Bean and Tea Leaf

- Jollibee plans to invest in order to acquire Coffee Bean and Tea Leaf

- The investment would cost $100 million or 5.13 billion

- Jollibee Worldwide Pte Ltd. Would initially finance the entire acquisition

PAY ATTENTION: Click "See First" under the "Following" tab to see KAMI news on your News Feed

The Jollibee Foods Corporation (JFC) eyes to invest $100 million or P5.13 billion to acquire California-based Coffee Bean and Tea Leaf.

KAMI learned that the Java Ventures LLC, a fully-owned subsidiary of Jollibee Worldwide, is set to be the acquiring entity.

“The acquisition of The Coffee Bean and Tea Leaf will be JFC’s largest and most multinational so far with business presence in 27 countries,” Tony Tan Caktiong said.

As reported by the Inquirer (author Doris Dumlao-Abadilla), the total acquisition would reach $350 million on a debt-free basis.

PAY ATTENTION: Using free basics app to access internet for free? Now you can read KAMI news there too. Use the search option to find us. Read KAMI news while saving your data!

Singapore-based subsidiary Jollibee Worldwide Pte Ltd. would initially finance the acquisition through a bridge loan.

Last year, Jollibee got the 47-percent stake in Mexican chain Tortas Frontera. In 2018, Jollibee invested P1.74 billion to acquire the master franchise holder of Tim Ho Wan.

The Jollibee Foods Corp also acquired Chowking, Mang Inasal, Greenwich, and Red Ribbon.

Enjoyed reading our story? Download KAMI's news app on Google Play now and stay up-to-date with major Filipino news!

Jameson Blake: This Movie Will Inspire Filipinos! The star of Hello, Love Goodbye is sure that Filipinos will enjoy the new movie. The actor also speaks about some personal issues, including the graphic art controversy he was involved in. - on KAMI HumanMeter!

Source: Kami.com.ph

Online view pixel