Jollibee Now Owns L.A.-Based Coffee Bean & Tea Leaf!
Coffee Bean & Tea Leaf is a Los Angeles staple...it's even based in Los Angeles. Well now, it will soon have a new owner.
According to ABC Los Angeles:
Jollibee--the Phillipines' largest fast-food chain that's best known for their fried chicken and bee mascot--is scooping up the struggling coffee chain in a $350 million deal. The buyout shifts ownership of Coffee Been overseas, and will expand the chain in Asia. It's the largest acquisition to date for Jollibee as it tries to become a bigger player in the coffee world, dominated by Starbucks. The deal is expected to close in 60 days.
How do you feel about Coffee Bean & Tea Leaf now being owned by Jollibee? Comment me!