Alison Tudor-Ackroyd
Jul 25, 2019

Jollibee acquires US-based Coffee Bean & Tea Leaf

The company had 1,189 outlets at the end of 2018, of which 284 are in the US, 447 in Southeast Asia, 336 in other Asian countries and 122 in other regions.

The Philippines' largest fast-food company, Jollibee Foods Corp, has made another leap forward in its ambitious overseas expansion, with an unusually risky deal in the US.

The Manila-headquartered company has agreed to buy 100% of loss-making Los Angeles-based chain The Coffee Tea Leaf for $350 million, it said in a filing to the Philippine stock exchange on Wednesday.

The acquisition of The Coffee Bean Tea Leaf will be JFC...

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