Media Coverage
Source: Daily Journal
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
10.02.18
LOS ANGELES – A team of Pillsbury lawyers represented Philippines-based Jollibee Foods Corp. in its business venture with Chicago restaurateur Chef Rick Bayless.
Jollibee teamed up with Bayless to build a Mexican fast-casual restaurant business in the United States through its wholly-owned subsidiary Jollibee Foods Corporation (USA). Bayless, known for appearing on a public television series and for winning “Bravo’s Top Chef Masters,” is the founder of Tortas Frontera restaurants, which feature Mexican cuisine.
This partnership will be formalized through a $12.4 million investment from Jollibee in Tortas Frontera LLC. In return, Jollibee will receive 47 percent of the fully-diluted membership interests in Tortas Frontera, according to deal terms in a Securities and Exchange Commission filing. The remaining 53 percent membership interests in Tortas Frontera will stay with Bayless and other shareholders.
Tortas Frontera, with headquarters in Chicago, now has four restaurants. Three are in Chicago O’Hare International Airport and one is at the University of Pennsylvania in Philadelphia.
Los Angeles Corporate partner Anna M. Graves led the Pillsbury team that included Dana P. Newman, Karen Chan, Kevin Lin, Bruce W. McDiarmid, Clinton Jang and Mark Jones.