The Philippines' biggest restaurant operator says it will buy a majority interest in Denver hamburger company Smashburger for $100 million.
Jollibee Foods Corp., or JFC, bought a 40 percent interest in Smashburger, the chain's legal name, back in October 2015 for an estimated $100 million.
Now it intends to buy another 45 percent interest in Smashburger parent SJBF LLC from holding company Smashburger Master LLC for another $100 million, company officials said, bringing its ownership stake in Smashburger to 85 percent.
“JFC will be able to participate in the very large mainstream American consumer market in addition to serving Filipino-Americans there,” Jollibee said in statement to the Philippine Stock Exchange, per Reuters news service.
Read more at the Denver Business Journal: http://bit.ly/2BWk0iC