- Hollis Johnson
Filipino fast-food behemoth Jollibee may be considering buying a sandwich chain in its quest for global domination.
Jollibee is considering an acquisition of British sandwich chain Pret A Manger, Reuters reported, citing sources familiar with the matter.
The deal – which would value Pret A Manger at more than $1 billion – would be an unlikely union.
Pret A Manger is known for its upscale sandwiches and organic coffee. The British chain has more than 400 locations in the UK, United States, France, and China.
Jollibee has 2,700 locations around the world. The chain serves a Filipino-influenced menu of fast-food classics, such as fried chicken, spaghetti, and Yum burgers. In 2015, Jollibee acquired a 40% stake in American burger chain Smashburger for roughly $100 million.
While neither Jollibee nor Pret A Manger commented on the rumored deal to Reuters, Jollibee’s chief financial officer told the publications that the majority of potential targets do not result in acquisition.