Jollibee expands into US market with Smashburger acquisition

REDWOOD CITY – The Philippines’ leading fast food company has acquired 40 percent of a US hamburger chain — its largest-ever acquisition outside the Philippines.

Jollibee Foods says it had acquired part of Denver-based Smashburger, which has 339 restaurants in the United States, Canada, the Middle East, and South America.

Jollibee Foods shelled out $100 million for the investment.

Company Chairman Tony Tan Caktiong says this will make Jollibee’s presence in the US more significant, going beyond the Filipino market and serving mainstream customers in the $100 billion US burger market.

 

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