Jollibee Foods Corp. acquires 70% stake in South Korea's Compose Coffee for $340M, serving as a gateway to the international value coffee market.

Jollibee Foods Corp., the largest restaurant operator in the Philippines, has acquired a 70% stake in South Korea's Compose Coffee for $340 million. The acquisition will serve as Jollibee's "gateway in unlocking the fast-growing international value coffee market in South Korea, which ranks third globally in terms of coffee consumption per capita." The deal will increase Jollibee's global store network to 10,000.