Philippine-based chain of fast food restaurants Jollibee Foods is continuing its drive into the U.S. restaurant space, announcing a planned $12.4 million investment in Chicago-based Mexican food products producer Tortas Frontera.
Together with brand Tortas Frontera, Jollibee Foods will build a significant business in the large and fast-growing Mexican food category in the United States.
Upon closing the deal, Jollibee will control 47 percent of Tortas Frontera, with the majority of the Mexican sandwich concept.
Earlier this year, Jollibee became majority owner of fast-casual burger chain Smashburger after first purchasing a 40 percent stake in the company in 2015.