Jollibee buys 70% stake in South Korean coffee chain
By Carl Samson
Editor’s Note: This article previously reported that Jollibee acquired Compose Coffee for $340 million. It has been corrected to clarify that Jollibee acquired 70% of a deal valued at $340 million. We apologize for the error/confusion.
Jollibee Foods, the Philippines’ largest restaurant operator, purchased a 70% stake — $238 million — in South Korea’s Compose Coffee in a deal valued at $340 million, marking its largest acquisition by store count.
Founder Tony Tan Caktiong sees Compose Coffee as pivotal in expanding Jollibee’s global footprint to nearly 10,000 stores worldwide, capitalizing on the South Korean coffee market, which is currently ranked third globally for consumption per capita. The move boosts Jollibee’s international operations to 41% of total, with analysts anticipating a 2% increase in group sales this year.
Share this Article
Share this Article
