Jollibee acquires Smashburger
In this article (5)
Jollibee has taken full ownership and control of US fast-food chain Smashburger after acquiring an 85 per cent stake in February.
The Philippine company said it paid US$10 million to acquire the remaining 15 per cent of the company and that it has made management changes.
Tom Ryan, Smashburger founder and CEO, will take on the additional title of chief product development advisor at Jollibee Foods Corporation globally, focusing on strengthening taste and quality aspects across key brands and enhancing their relevance across global markets.
Jose “Pepot” Minana has assumed the role of Smashburger president, including daily operations, collaborating on strategy and brand direction, and lead the continuing integration of Smashburger into the Jollibee Foods portfolio.
Smashburger has 351 stores and accounts for 7 per cent of Jollibee’s global sales which totalled $3.4 billion last year.
Questions & Answers
Q.What was the total cost for Jollibee to acquire the entire Smashburger company?
What was the total cost for Jollibee to acquire the entire Smashburger company?
The article states Jollibee paid US$10 million for the remaining 15 per cent stake. The cost for the initial 85 per cent acquisition is not mentioned in this text.
Q.Who will now lead the day-to-day operations at Smashburger?
Who will now lead the day-to-day operations at Smashburger?
Jose “Pepot” Minana has taken on the role of Smashburger president. He will oversee daily operations, contribute to strategy and brand direction, and manage the ongoing integration into Jollibee Foods.
Q.What is the new role for Smashburger's founder, Tom Ryan, within Jollibee?
What is the new role for Smashburger's founder, Tom Ryan, within Jollibee?
Tom Ryan is now chief product development advisor at Jollibee Foods Corporation globally. His focus will be on enhancing taste and quality across key brands and boosting their relevance in various global markets.
Q.How significant is Smashburger to Jollibee's overall sales figures?
How significant is Smashburger to Jollibee's overall sales figures?
Smashburger accounts for 7 per cent of Jollibee's global sales. This means it contributed approximately $238 million to Jollibee's total sales of $3.4 billion last year.
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