Fried chicken giant Jollibee buys S. Korean Compose Coffee

Jollibee is seeking to boost growth by expanding its brand internationally, including in China, and by expanding its coffee and tea business. — Reuters

MANILA: Jollibee Foods Corp, the Philippines’ largest restaurant operator, will acquire a 70% stake in South Korea’s Compose Coffee in its latest move to grow its coffee and tea business.

The investment will serve as Jollibee’s “gateway in unlocking the fast-growing international value coffee market in South Korea, which ranks third globally in terms of coffee consumption per capita,” Jollibee said in a stock exchange filing.