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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 <a href="https://www.nrn.com/mergers-acquisitions/jollibee-foods-corp-acquires-final-stake-smashburger?NL=NRN-01a&amp%3BIssue=NRN-01a_20181214_NRN-01a_450&amp%3Bsfvc4enews=42&amp%3Bcl=article_1&amp%3Butm_rid=CPG06000011957589&amp%3Butm_campaign=27431&amp%3Butm_medium=email&amp%3Belq2=6e0803b478e34774894e157c2030e08b&utm_source=1851franchise.com&utm_medium=article&utm_campaign=asias-largest-restaurant-operator-jollibee-foods-corp-takes-majority-stakes-in-smashburger-2708693" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">Nation&rsquo;s Restaurant News</a>. 

Jollibee operates &ldquo;more than 4,300 restaurants around the world under various banners,&rdquo; according to the article, &ldquo;including its namesake fried chicken fast food chain.&rdquo;

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&rsquo;s Restaurant News reports that &ldquo;Ryan will remain CEO. However, he will take on the additional title of chief product development advisor of JFC Global&rdquo; and that &ldquo;Jollibee veteran executive Jose &lsquo;Pepot&rsquo; Mi&ntilde;ana has been tapped as Smashburger&rsquo;s new president.&rdquo; Mi&ntilde;ana &ldquo;will oversee the daily operations of the company, which operates more than 350 corporate and franchise stores in 38 states,&rdquo; according to the article. 

Read the full article <a href="https://www.nrn.com/mergers-acquisitions/jollibee-foods-corp-acquires-final-stake-smashburger?NL=NRN-01a&amp%3BIssue=NRN-01a_20181214_NRN-01a_450&amp%3Bsfvc4enews=42&amp%3Bcl=article_1&amp%3Butm_rid=CPG06000011957589&amp%3Butm_campaign=27431&amp%3Butm_medium=email&amp%3Belq2=6e0803b478e34774894e157c2030e08b&utm_source=1851franchise.com&utm_medium=article&utm_campaign=asias-largest-restaurant-operator-jollibee-foods-corp-takes-majority-stakes-in-smashburger-2708693" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">here</a>. 

<a href="https://www.facebook.com/JollibeePhilippines/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=asias-largest-restaurant-operator-jollibee-foods-corp-takes-majority-stakes-in-smashburger-2708693" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">Photo courtesy of Jollibee Foods Corp. on Facebook.</a>

Smashburger, Majority Stakeholder, Jollibee Foods Corp.

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