Philippines' Jollibee Buying Coffee Bean & Tea Leaf In Overseas Expansion

July 24, 2019

Reuters reports that the Philippines' Jollibee Foods Corp is buying Los Angeles-based Coffee Bean & Tea Leaf from Advent International and other investors for $100 million. Jollibee has a market value of approximately $5.5 billion and is the Philippines' largest food service network operator. Coffee Bean & Tea Leaf has 1,189 locations in the U.S., the United States, the Middle East and Asia.