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Jollibee drinks up Taiwanese bubble tea shop Milkshop as it ramps up acquisitions to fulfil global ambitions

Jollibee Foods Corporation (JFC), operator of the eponymous fast food chain famous for its crispy fried chicken, is buying a majority stake in Taiwanese company Milkshop International Co Ltd in the Philippine company’s first foray into the bubble tea sector that could bring it closer to its goal of being one of the world’s largest restaurant businesses.JFC said its unit Jollibee Worldwide Pte Ltd is set to pay US$12.8 million for 51 per cent of Milkshop, which runs the popular tea brand Milksha…

Read the original article at South China Morning Post

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