Jollibee’s 51 per cent-owned Milksha will acquire a 70 per cent stake in Taiwanese wellness soup brand Moon Moon Food for US$3.17 million.

“Milksha is an alternative healthy beverage under the tea segment which gives JFC the opportunity to participate in the fast-growing beverage category globally,” said Jollibee in a stock exchange disclosure.

“This strategic move reinforces Milksha’s position as leader in the tea segment in Taiwan by accretively integrating Moon Moon Food’s resources and complementary offerings to enhance ability to meet evolving customer needs, further strengthening scale, valuation, and expanding consumer base of Milksha.”

Moon Moon Food operates 13 outlets in Taiwan and opened its first overseas branch in Singapore last year.

Yung-Cheng Lai, founder and CEO of Moon Moon Food, will retain ownership of the remaining 30 per cent stake in the company.