FASTFOOD giant Jollibee Foods Corp. (JFC) has issued a clarification on its supposed bid to acquire British sandwich chain Pret A Manger for about $1 billion.
A Thomson Reuters report said Jollibee was in talks with an advisor to acquire Pret A Manger for about $1 billion, based on the latter’s core earnings of more than 93 million pounds ($125.5 million) in 2016. The report said that if the bid succeeds, it would be Jollibee’s biggest overseas deal and potentially one of the largest Philippine international deals.
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