Jollibee Foods Corporation acquires Korean chain Compose Coffee

The chain adds to Jollibee’s growing portfolio of international brands.

On Tuesday, July 2, Jollibee Foods Corporation (JFC) disclosed that they have purchased a controlling 70% stake in South Korea-based coffee chanin Compose Coffee.

Jollibee bought its share in the company, which owns a chain of over 2,000 stores, for $340 million or roughly Php 20 billion.

According to the Philippine-based firm, the acquisition of the Korean coffee chain boosts their network of stores to about 10,000 locations worldwide, including its other brands such as the namesake fastfood chain.

JFC Chairman Tony Tan Caktiong says that Compose Coffee is by far the group’s biggest acquisition, as it continues to set its sights on growing globally.

Compose Coffee boasts being debt-free, while also being able to grow to its current size within the last 10 years.

Aside from the new purchase, Jollibee also owns other coffee chains like Coffee Bean and Tea Leaf (CBTL) and Highlands Coffee, on top of their other food chain brands led by Jollibee, Chowking, Mang Inasal, Greenwich, and Red Ribbon.

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