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Jollibee Acquires 40% Stake In Smashburger

What's Jollibee, you ask? Clearly, you have not been to the Philippines, where Jollibee is the McDonald's of the archipelago. Now, in a case of third-to-first world reverse osmosis, Jollibee Foods Corp. is taking a 40% bite out of Smashburger. The deal values the fast-casual burger chain at $335 million. Jollibee chairman Tony Tan Caktiong said the $100 billion domestic burger market is three times larger than the pizza, sandwich or coffee segments in terms of sales.

Read the whole story at Nation's Restaurant News »

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