Paul, Weiss advised Smashburger Master LLC on the deal
Jollibee Foods Corporation (PSE: JFC), Asia’s largest food service company, has agreed to acquire an additional 45 percent of the Smashburger brand for $100M USD, bringing JFC ownership stake to 85 percent.
In 2017, Smashburger launched and sold nearly two million Triple Double Burgers setting record levels of mix, sales and traffic. The company also launched the Smash Pass, a subscription model consumer frequency program, a fast casual first.
Smashburger is a leading fast casual better burger restaurant known for its 100 percent fresh never frozen, burgers that are smashed on the grill to sear in the juices and seal in the flavor. In addition to beef and turkey burgers, Smashburger offers grilled or crispy chicken sandwiches, black bean burgers, fresh salads, signature side items and hand-spun Haagen-Dazs® shakes.
Paul, Weiss advised Smashburger Master LLC with a team including corporate partners Ted Ackerman (Picture), Carl Reisner; tax partner Brad Okun; and antitrust counsel Marta Kelly.
Involved fees earner: Edward Ackerman – Paul Weiss Rifkind Wharton & Garrison; Carl Reisner – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison;
Law Firms: Paul Weiss Rifkind Wharton & Garrison;
Clients: Smashburger Master LLC;