Jollibee to list Highlands Coffee in Vietnam
Jollibee Foods Corp’s subsidiary JSF Investment and its partner Viet Thai International plan to list the Highlands Coffee business on the Vietnam stock exchange.
According to the announcement, Super Foods, the company owns 51 per cent of Highlands Coffee brand, will be listed publicly by July, 2019.
The exact stake of the IPO has yet to be disclosed.
Besides Highlands, Superfoods also owns and operates Pho 24 and the Hard Rock Cafe stores in Vietnam.
After being acquired by Jollibee Food Corp in 2012 with a $25 million deal, Super Foods has rapidly expanded its Highlands chain throughout Vietnam up to 130 outlets in July.