Jollibee Foods Corp. will acquire Coffee Bean & Tea Leaf for $350 million, reports Bloomberg. This acquisition is Jollibee’s largest to date, following the $210.25 million takeover of Smashburger in 2018.
Los Angeles-based Coffee Bean will add 14 percent to Jollibee’s global sales and expand its store network by more than a quarter. However, Rachelle Cruz, an analyst at AP Securities notes that it may take time for Jollibee to see the earnings, saying, “Smashburger is yet to contribute positively on earnings and here is another acquisition that will probably be earnings dilutive in the next two to three years.” Full Story
Related: KKR Reportedly Acquires Arnott's; Coca-Cola Invests in Kombucha Maker.
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Jollibee to Acquire Coffee Bean & Tea
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July 31, 2019
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