Jollibee buys Tortas Frontera stake

Tortas-Frontera

Philippine fast-food operator Jollibee has bought a 47 per cent stake in US-based Mexican food chain Tortas Frontera.
The US$12.4 million acquisition was announced in a disclosure to the Philippine Stock Exchange. Chairman Tony Tan Caktiong said would help the firm tap the “fast-growing” Mexican food category in the US. Mexican venues occupy about 9 per cent of the US restaurants market.
The move falls in line with Jollibee’s plans to become one of the top five fast-food chains in the world, and is its second major acquisition in the US following taking a majority shareholding in Smashburger. It has also purchased big brands in China.
Jollibee operates 4279 stores globally, with more than 1400 of those Jollibee-branded outlets.

Inside Retail Asia

US Corporate Giants Strengthen Bonds with Vietnam Amid Historic Delegation

TOP 10 THINGS YOU NEED TO KNOW TO SUCCESSFULLY FRANCHISING IN VIETNAM AND SOUTHEAST ASIA

Empower Young Minds with Helen Doron Education Group: The Ultimate Education Franchise Opportunity