Jollibee Foods acquires 40% stake in Smashburger

Jollibee Foods acquires 40% stake in Smashburger

Deal values fast-casual burger chain at $335 million

Jollibee Foods Corp. has acquired a 40-percent stake in Smashburger in a deal that values the fast-casual burger chain at $335 million, the Philippines-based quick-service operator said late Monday.

“Smashburger is one of the fastest-growing restaurant brands in the U.S., and we are very excited to work side by side with the owners and management of Smashburger as we continue its growth,” Jollibee chairman Tony Tan Caktiong said in a statement.

Caktiong sai

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