Jollibee buys Compose Coffee for $340 million

Jollibee buys Compose Coffee for $340 million
Photos from Jollibee and Compose Coffee websites

JOLLIBEE Food Corp. (JFC) has bought South Korean coffee franchise Compose Coffee for approximately $340 million, expanding its reach to the Korean coffee market.

JFC and its subsidiary, Jollibee Worldwide Pte. Ltd., announced on Tuesday, July 2, 2024, that they have signed a definitive agreement to acquire a 70 percent stake in the Korean coffee franchise Compose Coffee.

Elevation Equity Partners Korea Ltd., a private equity firm, will have a 25 percent stake in the coffee franchise, while Titan Dining II LP, an equity firm in which Jollibee has 90 percent participating interest, will have the remaining five percent share.

Compose Coffee currently has over 2,400 stores, making it the largest brand under Jollibee’s umbrella in terms of number of locations and is expected to raise JFC’s revenue by two percent.

The acquisition is said to be part of JFC’s move to grow its coffee and tea business with the corporation also having controlling interests in LA's The Coffee Bean and Tea Leaf and Vietnam’s Highlands Coffee. (Kirby Clint P. Antoni, UP Tacloban intern)

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