Franchise News
Asia's Largest Restaurant Operator, Jollibee Foods Corp., Takes Majority Stakes in Smashburger
The better-burger chain will be helmed by founder and CEO Tom Ryan plus Jollibee vet Jose ‘Pepot’ Miñana
Philippines-based restaurant juggernaut Jollibee has acquired the final 15% of Smashburger stakes needed to make the chain the majority stakeholder, according to an article in Nation’s Restaurant News.
Jollibee operates “more than 4,300 restaurants around the world under various banners,” according to the article, “including its namesake fried chicken fast food chain.”
While the value of the deal has not been disclosed, it is known that a leadership change is on the horizon for the 11-year-old fast-casual chain founded in Denver by Tom Ryan.
Nation’s Restaurant News reports that “Ryan will remain CEO. However, he will take on the additional title of chief product development advisor of JFC Global” and that “Jollibee veteran executive Jose ‘Pepot’ Miñana has been tapped as Smashburger’s new president.” Miñana “will oversee the daily operations of the company, which operates more than 350 corporate and franchise stores in 38 states,” according to the article.
Read the full article here.
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About the Author
Katie LaTour
FollowKatie LaTour is a staff writer for 1851 Franchise and Estatenvy. She has experience in copywriting, editing and translation, and has written content for brands including Coca-Cola, Ivivva and Ray Ban's. She holds a Master of Arts in Writing and Publishing from DePaul University and a B.A. in English and Spanish from the University of Dayton. Presently, Katie is working on a poetry collection and building a platform for Chicago creative professionals to share best practices.
