Jollibee Foods Corporation now owns The Coffee Bean & Tea Leaf® (CBTL), the specialty coffee and tea brand based in Los Angeles, California, USA with 1,180 outlets worldwide. This after both parties had completed all the necessary requirements for the executed purchase agreement.
In a disclosure today at the Philippine Stock Exchange (PSE), September 24, 2019, Jollibee stated that the acquisition of the CBTL brand will be its largest and most multinational so far with business presence in 27 countries. The acquisition will also enable the company to become an important player in the large, fast growing and profitable coffee business.
Read screenshot of first paragraph of press release below.
CBTL has four branches in Cagayan de Oro: Centrio Mall (ground floor), Centrio Mall (Cinema Lobby), Limketkai Center and SM CDO Downtown Premier. Download the full disclosures HERE.
Here’s our previous post below.