News Digest / Ticker: JBFCY

Ticker: JBFCY

06:19am, Tuesday, Jul 02, 2024

Jollibee's Bold $340M Move: Acquires Majority Stake in South Korea's Compose Coffee, Shares Rise

Jollibee Foods (PSE: JFC) is acquiring a 70% stake in South Korea’s Compose Coffee, valuing it at $340 million. This marks Jollibee’s most expansive global move to date. The stock rose 0.44% post-announcement, with analysts praising the strategic investment.