The 'McDonald's of the Philippines' is reportedly plotting a $1 billion deal that would make it a major player in the global fast-food battles
Hollis Johnson
Jollibee is considering an acquisition of British sandwich chain Pret A Manger, Reuters reported, citing sources familiar with the matter.
The deal - which would value Pret A Manger at more than $1 billion - would be an unlikely union.
Pret A Manger is known for its upscale sandwiches and organic coffee. The British chain has more than 400 locations in the UK, United States, France, and China.
Jollibee has 2,700 locations around the world. The chain serves a Filipino-influenced menu of fast-food classics, such as fried chicken, spaghetti, and Yum burgers. In 2015, Jollibee acquired a 40% stake in American burger chain Smashburger for roughly $100 million.
While neither Jollibee nor Pret A Manger commented on the rumored deal to Reuters, Jollibee's chief financial officer told the publications that the majority of potential targets do not result in acquisition.
- Singapore Airlines was ordered to pay a couple compensation for 'mental agony' after they complained their business-class seats didn't automatically recline
- Welcome to the white-collar recession
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer
- Amul to sponsor USA cricket team in T20 World Cup
- LG Saxena gives nod to sack 223 DCW employees hired 'without due procedure'
- American Express to open one-million sq feet campus in Gurugram
- Kotak Mahindra Bank shares decline over 4%; hit 52-week low
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market