Jollibee formally buys Korea's Compose Coffee | ABS-CBN
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Jollibee formally buys Korea's Compose Coffee
Jollibee formally buys Korea's Compose Coffee
MANILA -- Jollibee has formally signed a deal to buy South Korean coffee brand Compose Coffee.
MANILA -- Jollibee has formally signed a deal to buy South Korean coffee brand Compose Coffee.
Jollibee Foods Corporation told the Philippine Stock Exchange Friday that it has signed definitive agreements that gives it majority shareholding of effectively 70 percent in Compose Coffee. JFC said the acquisition costs about $340 million.
Jollibee Foods Corporation told the Philippine Stock Exchange Friday that it has signed definitive agreements that gives it majority shareholding of effectively 70 percent in Compose Coffee. JFC said the acquisition costs about $340 million.
Jollibee had earlier said that Compose Coffee has over 2,000 franchised stores in South Korea, and is a leader in terms of brand satisfaction among Korean coffee brands.
Jollibee had earlier said that Compose Coffee has over 2,000 franchised stores in South Korea, and is a leader in terms of brand satisfaction among Korean coffee brands.
The firm said the move is its gateway to "unlocking the fast-growing international value coffee market" in Seoul. Jollibee had earlier said that it would keep Compose Coffee in Korea for now, as it focuses on growth in the coffee chain's home turf.
The firm said the move is its gateway to "unlocking the fast-growing international value coffee market" in Seoul. Jollibee had earlier said that it would keep Compose Coffee in Korea for now, as it focuses on growth in the coffee chain's home turf.
Jollibee said Compose Coffee has a debt-free balance sheet, and good cash returns and profitability margins.
Jollibee said Compose Coffee has a debt-free balance sheet, and good cash returns and profitability margins.
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