Jollibee buys 40 percent of Denver chain Smashburger | Inquirer Business

Jollibee buys 40 percent of Denver chain Smashburger

/ 01:53 AM March 11, 2016

Jollibee-logo-825x412SmashBurger_logo

SAN FRANCISCO — Jollibee Foods Corp. of the Philippines, Asia’s largest restaurant company, has bought 40 percent of Denver, Colorado-based hamburger chain Smashburger.

Jollibee’s investment at $100 million, according to the Wall Street Journal. The purchase price values Smashburger at a $335 million.

Article continues after this advertisement

Smashburger is reportedly growing at a 20 percent annual rate and now has 335 corporate and franchised restaurants in 35 states and seven countries, according to the Denver Business Journal.

Some of its recent expansion includes plans to open 25 restaurants in Egypt, 61 new restaurants on the East Coast and 35 locations in the United Kingdom.

Like us on Facebook

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Philippine Business

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.