MANILA -- Jollibee Foods said on July 24 it will buy the Los Angeles-based Coffee Bean and Tea Leaf chain in a move that pits the Philippines' largest fast-food group against coffee giant Starbucks and cash-rich private equity firm JAB Holdings.
Analysts, however, question whether Jollibee will be able to turn around the loss-making coffee chain given its struggle to do so with its other troubled U.S. assets.
