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Philippine fast food giant Jollibee buys 40-percent of Smashburger for $99 million

( October 13, 2015, 03:37 GMT | Official Statement) -- MLex Summary: Philippine fast food giant Jollibee Foods said today it has agreed to buy 40-percent of US quick service restaurant chain Smashburger for $99 million. Jollibee entered into the agreement through its wholly-owned subsidiary Bee Good!, the company said in a statement. Colorado-based Smashburger currently has a total of 339 restaurants in 35 US states and seven foreign markets. Bee Good has an option to purchase up to an additional 35 percent of Smashburger between 2018 and 2021, and the balance of 25 percent between 2019 and 2026, the statement said.The statement is attached....

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