Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

Jollibee buys Tortas Frontera stake

Philippine fast-food operator Jollibee has bought a 47 per cent stake in US-based Mexican food chain Tortas Frontera.

The US$12.4 million acquisition was announced in a disclosure to the Philippine Stock Exchange. Chairman Tony Tan Caktiong said would help the firm tap the “fast-growing” Mexican food category in the US. Mexican venues occupy about 9 per cent of the US restaurants market.

The move falls in line with Jollibee’s plans to become one of the top five fast-food chains in the world, and is its second major acquisition in the US following taking a majority shareholding in Smashburger. It has also purchased big brands in China.

Jollibee operates 4279 stores globally, with more than 1400 of those Jollibee-branded outlets.

You have 7 free articles.

Webinar is only for Professional subscribers

Become a Professional for only $4 Already member? Login
  • Unlimited access to news,insights and opinions
  • Quarterly and weekely magazines
  • Independent research reports and forecasts
  • Quarterly webniars with industry experts
  • Q&A with retail leaders
  • Carrer advice
  • Exclusive masterclass access.Part of Retail Week 2021