HOMEGROWN fast-food giant Jollibee Foods Corp. (JFC) on Monday said that its 51-percent owned subsidiary, Milkshop International Co., Ltd. (Milksha), was acquiring a 70-percent stake in a popular Taiwanese wellness soup brand to strengthen its position in the tea segment.
In a stock exchange filing, JFC said Milksha had signed an agreement to invest in Tien Hsia Sheng Co., Ltd. (Moon Moon Food) by buying 980,000 shares at NT$105.92 apiece or at total of NT$103.8 million (about P184.1 million).
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