Media Coverage 10.02.18
Media Coverage
Source: Daily Journal
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
01.08.19
A team of Pillsbury lawyers led by Los Angeles Corporate partner Anna Graves represented Jollibee Foods Corp. in a deal to buy the 15-percent stake in the Smashburger brand that it did not already own. Financial terms of the deal were not disclosed.
Jollibee, which is one of the largest food service companies in Asia, bought its first portion of Smashburger in 2015. That deal valued Smashburger at around $335 million at the time. In February 2018, Jollibee bought a 45 percent stake in the company for $100 million. That stake gave Jollibee an 85 percent interest in the Smashburger brand, a Denver-based restaurant chain which is known for using fresh and not frozen beef.
Jollibee operates the largest food service network in the Philippines. The company operates under the Jollibee brand along with many others, including Red Ribbon and Burger King.
Along with Graves, the Pillsbury team included Los Angeles partner Dana Proud Newman and Sacramento partner Carrie Bonnington.