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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.

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