Multinational Jollibee already sells Milkshop drinks in some of its restaurant chains
Jollibee Food Corp., the largest restaurant and fast food company in the Philippines, will take a 51% stake in Taiwan bubble tea chain Milkshop for US$12.8 million (NT$357.29 million), reports said Thursday (Nov. 4).
The company manages 17 brands and 5,853 outlets in 34 countries including the United States, Canada, Vietnam, and the United Arab Emirates, CNA reported. Bubble tea and other tea drinks have become immensely popular in the Philippines, with the country counting an estimated 400 outlets from various brands, including companies from Taiwan…
