By Rappler
Jollibee Foods Corporation chairman Tony Tan Caktiong says buying a majority stake in Compose Coffee will help the FIlipino-grown group become the ‘fastest growing and leading value coffee player in South Korea’
Filipino global food chain Jollibee Foods Corporation (JFC) is acquiring 70% of Compose Coffee, among South Korea’s most popular low cost coffee stores.
JFC said it acquired the shares for $340 million (around P20 billion). Private equity firms Titan Dining II LP and Elevation Equity Partners Korea Limited retain 5% and 25% of Compose Coffee, respectively.
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