Philippines' Jollibee to buy South Korea's Compose Coffee for $238m
MANILA -- Philippine fast food chain Jollibee Foods (JFC) is buying a controlling stake in one of South Korea's largest coffee shop chains, Compose Coffee, to raise its brand profile across Asia.
Jollibee announced the deal in a filing to the Philippine Stock Exchange on Tuesday, which said that the Philippine company will take a 70% stake in the brand. The value of the acquisition is pegged at $238 million.