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.
Business deals
Philippines' Jollibee takes on Starbucks with US coffee chain deal
$350m acquisition of another loss-making company a 'major investor concern'
Jollibee is expanding its foothold in the competitive coffee market. (Sources photos by Reuters and Kosaku Mimura)
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