Smashburger Enters into Strategic Partnership with Jollibee Foods Corporation, Asia’s Largest Restaurant Company

October 13, 2015 // // DENVER, COLORADO - Manila, Philippines – Smashburger, the Denver-based Fast Casual restaurant concept, today announced that it has entered into a definitive agreement to sell 40% of the company to Jollibee Foods Corporation (PSE: JFC), Asia’s largest restaurant company. The purchase price values Smashburger at a $335 million enterprise value.

Launched in 2007, Smashburger has over 335 corporate and franchised restaurants operating in 35 states and seven countries. Approximately 60% of Smashburger is company owned and operated. Smashburger continues to grow at a rate of 20% annually.

Jollibee Foods Corporation, a publicly-traded market leader in the Philippines, has been actively seeking an investment in a leading U.S. growth brand. Jollibee Foods Corporation currently operates and franchises a network of over 3,000 restaurants worldwide under the trade names Jollibee, Chowking, Greenwich, Red Ribbon, Yonghe King, Hong Zhuang Yuan, Mang Inasal, Burger King Philippines, San Pin Wang, Jinja Bar. Jollibee also has a 50% interest in the Super Foods Group, which operates and franchises restaurants under the Pho 24 and Highlands Coffee brands throughout Vietnam.

“We at Smashburger are excited about our new strategic partnership with Jollibee,” commented Rick Schaden, Chairman and Co-Founder of Smashburger. “As founders and entrepreneurs we both have built teams that focus on bringing the highest quality and best tasting food to our restaurant categories. Founder and Chairman, Tony Tan Caktiong and I share a true passion for the restaurant business having opened and operated our very first restaurants, we believe our companies still cultivate that spirit today as we initiate this partnership.”

JFC Chairman Mr. Tony Tan Caktiong gave the following statement: "Smashburger is one of the fastest growing restaurant brands in the US and we are very excited to work side by side with the owners and management of Smashburger as we continue its growth. This acquisition will make JFC's presence in the US more significant, going beyond the Filipino market and serving mainstream consumers in the $100 billion US burger market, a food segment which is estimated to be almost three times larger than the pizza, sandwich or coffee segment in terms of sales. This acquisition will make the US one of JFC's most important markets and drivers of long term growth along with the Philippines, China and other Asian markets abroad."

“This partnership will provide additional energy and resources to Smashburger as we expand,” said Scott Crane, President and CEO, of Smashburger. “The team at Jollibee is focused on the same values as our company, which are to serve the highest quality food and provide a great dining experience for our guests.”

Smashburger was counselled by North Point Advisors as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison as legal and JFC was advised by J.P. Morgan as financial advisor, Pillsbury Winthrop Shaw Pittman LLP as legal advisor, and Isla Lipana & Co./PwC as accounting and tax advisor in this transaction.

About Smashburger

Smashburger is a leading Fast Casual “better burger” restaurant brand known for its fresh never frozen, 100% Certified Angus Beef® burgers that are smashed on the grill to sear in the juices, creating an upscale quality burger packed with flavor and served at a great value. In addition to burgers, Smashburger offers grilled or crispy chicken sandwiches, fresh salads, signature side items such as Haystack onions and Veggie Frites, and hand spun Haagen-Dazs® shakes. On each markets menu, Smashburger offers locally inspired items like a regional burger, a regional side or a local craft beer.

Founded 2007 in Denver, Colorado by Rick Schaden and Tom Ryan, there are currently over 335 corporate and franchised Smashburger restaurants operating in 35 states and seven countries. To learn more, visit

About Jollibee

Jollibee is the largest restaurant chain in the Philippines, operating a global network of over 3,000 stores. The company has also embarked on an aggressive international expansion plan in China, Vietnam, USA and other parts of Asia and the Middle East, firmly establishing itself as a growing international restaurant player.

Jollibee was founded by Tony Tan Caktiong and his family with its humble beginnings as an Ice Cream Parlor which later grew into an emerging global brand. At the heart of its success is a family-oriented approach to human resource management, making Jollibee one of the most admired employers in the region. The company has received the “Employer of the Year” Award from the Personnel Management Association of the Philippines, “Best Employer in the Philippines” Award from Hewitt Associated and a “Top 20 Employer in Asia” citation from the Asian Wall Street Journal. To learn more, visit

SOURCE Smashburger


Josh Kern

Cossette Palomar
Jollibee Foods Corporation
Investor Relations Director


Social Reach:

Viewer Response:

comments powered by Disqus

Smashburger »

Smashburger is a leading fast casual "better burger" restaurant known for its fresh never frozen, 100% Certified Angus Beef® burgers that are smashed on the grill to sear in the juice.


  1. Business Overview
  2. Franchise News

Franchise News Room »

News By Industry »

Hot Opportunities

Taco Bueno Franchise Opportunity

Taco Bueno
At Taco Bueno, we continue to make Tex-Mex the right way. We prepare our...

Kids 'R' Kids Franchise Opportunity

Kids 'R' Kids
Kids 'R' Kids Learning Academies is a pioneer in the early childhood...

Batteries Plus Bulbs Franchise Opportunity

Batteries Plus Bulbs
Whether you're an existing multi-unit operator with a non-competing brand...

Nestle Toll House Cafe by Chip Franchise Opportunity

Nestle Toll House Cafe by Chip
Nestlé Toll House Café by Chip is the only major, national dessert café...

Kitchen Solvers Franchise Opportunity

Kitchen Solvers
As a Kitchen Solvers franchisee you will not need any prior remodeling or...

Camille Albane Franchise Opportunity

Camille Albane
Decades of trendsetting chain-salon experience in Europe give Camille...

Jimmy's Egg Franchise Opportunity

Jimmy's Egg
Jimmy's Egg is now offering a unique opportunity to a select number of...

El Pollo Loco Franchise Opportunity

El Pollo Loco
The secret to El Pollo Loco is great-tasting food. Our menu has a broad...

A Franchise Update Media Group Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2016. All Rights Reserved. Site Hosting Provided By: wishVPS on FUMG3

In Loving Memory Of Timothy Gardner (1987-2014)