Jollibee to buy Coffee Bean & Tea Leaf: press reports

Jollibee Foods Corp is buying Coffee Bean & Tea Leaf for $100 million, according to press reports. Sellers include Advent International and other investors such as Sassoon family, Reuters said. Jollibee is the largest food service network in the Philippines. Coffee Bean, of Los Angeles, has 1,189 outlets spread across the United States, Southeast Asia and the Middle East, Reuters said. UPDATE: Total consideration for the deal is $350 million, according to an SEC filing.