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Filipino Chicken Chain Jollibee Purchases the Coffee Bean & Tea Leaf

Espresso Bean and Tea Leaf and fried rooster?

Right here’s some reasonably surprising mergers and acquisitions information: much-obsessed-about Filipino fried rooster chain Jollibee has bought California espresso chain the Espresso Bean and Tea Leaf. The chain is usually identified for hawking serviceable but forgettable caffeinated brown bean juice in airports and procuring malls, and for being the place the place actors learn scripts within the nineties.

Jollibee threw down $350 million on the Los Angeles-based cafe chain, which has over 1,000 areas, just below 300 of that are within the U.S. This isn’t Jollibee’s first outside-the-box buy: in 2018, it additionally snapped up burger chain Smashburger. The rationale appears to be diversification: as unremarkable as Espresso Bean and Tea Leaf could also be, it’s worthwhile and, of specific curiosity to Jollibee, it has a whole lot of areas throughout Asia, the place Jollibee needs to rake in extra money.

And in different information…

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  • Restaurant reservation system OpenTable is moving into the supply enterprise. What’s subsequent: Will Resy make faux meat? Maybe Fb will get into Zuckerberg authorized meal kits? [WJLA]
  • Within the final cradle-to-grave advertising technique, 7-Eleven is giving a university fund to a child that was born on July 11…at 7:11 p.m…and weighting 7 kilos, 11 ounces. At the very least they didn’t power the mother and father to call the child 7-Eleven? [NY Post]
  • Beans: they make you fart, and now they only destroyed a bridge in North Dakota that was structurally incapable of holding up a truck stuffed with all that protein. [GQ]
  • Frozen sugar-water deal with Otter Pops have misplaced their zingy colours. The corporate switched to pure flavors, making the ice pops a reasonably muted as a result of apparently “Louie Bloo Raspberry” will not be a naturally-occurring coloration or taste. [Foodbeast]
  • Antoni from Queer Eye liked lunch class when he was at school. [Instagram]

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