JOLLIBEE Foods Corp. has fully acquired US-based Smashburger, following the purchase of its remaining stake in the Filipino-owned fastfoid chain for $10 million or P526 million.

In a regulatory filing on Friday, Jollibee said it acquired in cash, the remaining 15-percent stake in SJBF LLC, owner of Smashburger, through its subsidiary Bee Good! Inc. (BGI).

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