JFC to acquire South Korean coffee brand-compose coffee

JFC to acquire South Korean coffee brand-compose coffee
SunStar Business

Jollibee Foods Corp. (JFC) announced that its subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL), will acquire a 70 percent majority share in Compose Coffee Co., Ltd. and JMCF Co. Ltd.

The remaining shares will be held by Titan Dining II LP (five percent) and Elevation Equity Partners Korea Limited (25 percent).

Elevation is a private equity firm specializing in mid-market buyouts in Asia, while Titan Fund II focuses on strategic investments in the food and beverage sector in Asia Pacific.

Compose Coffee, the fastest-growing coffee franchise in Korea operates 2,470 franchised stores and is supported by the largest in-house coffee roasting plant in Korea.

The acquisition, valued at approximately US$340 million, is expected to strengthen JFC’s presence in the Asian coffee market.

Completion of the transaction is subject to closing and financing conditions. / PR

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