Refreshment focuses on the water dispenser/cooler, office coffee service and vending sectors, while also taking an in-depth look into products for vending from bottled water and drinks, to snacks and confectionery. It also focuses on hydration, health and wellness, new technologies and environmental and social responsibility issues.
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According to Reuters, the Philippines' fast-food chain Jollibee Foods has announced plans to acquire a majority stake in South Korean coffee chain Compose Coffee for $340 million.
Reuters said that this marks Jollibee's largest acquisition in terms of store numbers as it continues to bolster its presence overseas.
Jollibee Worldwide Pte, a unit of Jollibee, will purchase 70% of Compose Coffee for $238 million, with an additional 5% acquired by its majority-owned Titan Fund. The remaining 25% stake will be retained by private equity firm Elevation.
Founded in 2014, Compose Coffee operates 2,470 franchised stores with a debt-free balance sheet and strong cash returns and profit margins. The acquisition will expand Jollibee's global store network to 10,000 locations.
Juan Paolo Colet, managing director at investment bank China Bank Capital in Manila, said: "This is a good move by Jollibee to further expand its global footprint and take advantage of attractive opportunities in promising markets".
He also mentioned that the acquisition is anticipated to increase cash flow and deliver long-term value to shareholders.
#JollibeeFoods #ComposeCoffee #SouthKorea
