
Jollibee to boost revenues in the US and China through M&A: report
It wants the two markets to account for 30% of its revenues separately.
Philippine fast food chain Jollibee Foods Corp expressed plans to boost its expansion in the US and China through more mergers and acquisitions (M&A), according to a Reuters report.
The firm revealed that it wants the two markets to account for 30% of its revenue separately. Before its acquisition of Coffee Bean & Tea Leaf, the Philippines makes up of 73% of revenues whilst China and USA represent 12% and 15%, respectively.
Jollibee made headlines when it acquired the coffee chain for US$350m last July.