Jollibee buys $340M stake in South Korean coffee chain

Jollibee Foods, the Philippines’ largest restaurant operator, purchased a 70% stake in South Korea’s Compose Coffee for $340 million, marking its largest acquisition by store count.

Founder Tony Tan Caktiong sees Compose Coffee as pivotal in expanding Jollibee’s global footprint to nearly 10,000 stores worldwide, capitalizing on the South Korean coffee market, which is currently ranked third globally for consumption per capita. The move boosts Jollibee’s international operations to 41% of total, with analysts anticipating a 2% increase in group sales this year.