Wednesday, September 19, 2018
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Jollibee eyes UK-based sandwich chain

/ 01:44 PM September 19, 2017

Homegrown fast-food giant Jollibee Foods Corp. is considering to bid for UK-based international sandwich chain Pret A Manger, continuing its globalization efforts.


Based on a report from Reuters, JFC had been holding talks with an adviser over a potential offer for Pret A Manager at a valuation of over $1 billion.

When the Philippine Stock Exchange asked JFC to comment on the report, the company’s Ysmael Baysa said: “Acquisition of new businesses has always been a part of our growth strategy.

In a disclosure on Tuesday, Baysa said JFC kept on looking for opportunities for new business acquisitions as a matter of on-going practice.

“Very few selected companies reach a completion of acquisition while the vast majority of potential targets does not,” Baysa said.

“With respect to recent months, JFC has not given a bid for acquisition to any company, either formal or informal.”

The report said Pret operated a chain of more than 400 shops worldwide.

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TAGS: JFC, jollibee, Pret a Manger
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