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Thursday, January 22, 2015

Philippines' Jollibee says keen to purchase a $1 billion U.S. fast food firm, (NASDAQ: DNKN)

Jollibee Foods Corp, the Philippines' largest fast food company, said on Thursday it is keen to purchase a U.S.-based fast food firm with a market value of at least $1 billion to advance a goal of boosting revenues from outside its home base.In December, Jollibee, which outsells McDonalds and KFC restaurants in the Southeast Asian nation, and a partner struck a deal with Dunkin' Brands Group Inc to open 1,400 new Dunkin' Donuts cafes in China over the next 20 years.Jollibee, in a stock market filing, confirmed comments on the U.S. market interest made earlier by Chairman Tony Tan-Caktiong to The BusinessMirror newspaper.Tan-Caktiong had said Jollibee may look for a partner for the possible acquisition but did not say whether the company was in talks with a prospective U.S. target or even if one had been identified.

Dunkin? Brands Group, Inc. (DBGI) is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. Shares of DNKN traded higher by 0.58% or $0.26/share to $45.27. In the past year, the shares have traded as low as $40.50 and as high as $53.05. On average, 1542920 shares of DNKN exchange hands on a given day and today's volume is recorded at 797262.