Jollibee Foods, the largest fast-food chain in the Philippines, has made its largest acquisition by store count, purchasing a significant stake in Compose Coffee, a South Korean company, in a deal valued at $340 million. This move marks a significant expansion of Jollibee's global footprint, with the majority of its future branches to be found abroad. The acquisition is seen as a strategic move by Jollibee to take advantage of attractive opportunities in promising markets. With Compose Coffee's 2,470 franchised locations, Jollibee's global retail network will expand to 10,000. This deal comes as fast food is reportedly becoming a luxury in the United States, particularly in California, where the minimum wage for fast-food workers has increased, leading to price hikes and concerns about affordability.
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