Philippines-based fast food firm Jollibee Foods Corp. (JFC) is set to take control of South Korean coffee chain Compose Coffee after acquiring a majority stake for $340 million.
MANILA, Philippines — Philippines-based fast food firm Jollibee Foods Corp. is set to take control of South Korean coffee chain Compose Coffee after acquiring a majority stake for $340 million.
It was ranked first in the South Korean coffee industry for having the highest growth rate in terms of franchised stores. The disclosure also cites data from McKinsey and EuroMonitor claiming South Korea ranks third globally in terms of coffee consumption. This data was not made public. Publicly available sources like theThe total cost for the acquisition is approximately $340 million, or roughly P20 billion. The amount was estimated at a price of about eight times of the target company's annual earnings, or EBITDA. Compose Coffee, moreover, has a positive cashflow and without debt.
JFC operates several fast-food chains and coffee shops in the Philippines. It has over 6,000 stores globally. The imported goats that tested positive for Q fever were free of diseases when they arrived in the Philippines in January,... The Philippines is experiencing a transformative period marked by the convergence of Artificial Intelligence and Environmental, Social and Governance principles. This synergy is driving innovative solutions to...
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