Jollibee Food completed the acquisition of The Coffee Bean & Tea Leaf for $100m.

Jollibee Food, Philippines’ largest food service network operator, completed the acquisition of The Coffee Bean & Tea Leaf, a coffee chain for $100m. The acquisition of The Coffee Bean & Tea Leaf brand will mark as Jollibee’s largest so far with business presence in 27 countries. Jollibee aims to accelerate the growth of The Coffee Bean & Tea Leaf brand particularly in Asia, by strengthening its brand development, marketing and franchise support system.