MANILA, Philippines — Filipino-owned Asian food conglomerate Jollibee Foods Corp. has taken 100 percent ownership of Colorado-based Smashburger, a famous casual burger brand. JFC announced yesterday that its wholly owned subsidiary Bee Good Inc. acquired Smashburger MasterLL’s 15 percent stake in SJBF LLC, the parent company of Smashburger. The acquisition brings JFC’s ownership in Smashburger to 100 percent after earlier acquiring an 85 percent stake. Smashburger serves fresh 100 percent certified Angus beef burgers. JFC also plans to bring Smashburger to Asia, starting in the Philippines, JFC CEO Ernesto Tanmantiong said.

Source: Philippine Star December 14, 2018 16:13 UTC