Jollibee hikes stake in US burger

The company said it eventually split target as foreign operations were growing faster than in the

“The consolidation of Smashburger into JFC will increase its will also expand JFC’s geographi 21 adding Costa Rica, Egypt, El Salvador, United Kingdom (Eng

It will increase the number of It will also lead to an expansion of the company’s US presence to

Jollibee paid $ 99 million in an option to take full control of the company, which was revised - cent acquisition and a complete takeover by 2019 at the earliest of

In a separate disclosure, meanwhile, Jollibee reported net in on the back of strong sales and the acceleration of a store network

For the fourth quarter alone,

Full- year revenues increased while system wide sales grew by

stores last year, the highest in its

Sales from restaurant chains in

Ysmael Baysa, in the disclosure, “were below year ago level as our rate of price adjustments was behind cost increases, following Jollibee’s practice of implementing gradual price adjustments in order to help consumers adapt to

“The gradual price adjustments help to continuously drive volume growth of consumer visits per -

Jollibee shares ended the day