Everybody knows Jollibee, and everybody knows The Coffee Bean and Tea Leaf. Well, it looks like the two will soon become one as Jollibee Foods Corp. told the Philippine Stock Exchange that it would be acquiring the US coffee chain. Although The Coffee Bean and Tea Leaf originated in the US; it has branches in 27 countries, including the Philippines.
If this pushes through as part of Jollibee’s expansion throughout the past few years, this will be Jollibee’s biggest acquisition outside of the Philippines and the second biggest business in the food group after Jollibee itself. The transaction is still subject to approvals from the US government.
According to Jollibee Foods Corp., their priority is to accelerate the growth of The Coffee Bean and Tea Leaf brand in Asia. Other local brands currently under Jollibee Foods Corp. include Mang Inasal, Greenwich, Burger King, Chowking, and Red Ribbon.