Jollibee buys 60% of Meko Holdings

By Ed Paolo Salting

Sep 05, 2023 12:24 am

JOLLIBEE Foods Corp. (JFC) said Monday that it had completed the acquisition of a 60-percent stake in Meko Holdings Ltd., the Jollibee brand's master franchisee in Hong Kong.

The fast-food giant announced in April that it was acquiring a majority stake in Meko Holdings through Golden Plate Pte. Ltd., a Singapore-based wholly-owned subsidiary of Jollibee Worldwide Pte. Ltd. for $16.08 million, subject to adjustments. The remaining 40 percent was retained by the current shareholders of Meko Holdings.

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