Phillippines firm buying majority interest in Smashburger

DENVER – A Philippines company — Jollibee Foods Corp. — says it will buy a majority interest in Denver hamburger company Smashburger for $100 million.

The Denver Business Journal reports that Jollibee Foods, or JFC, bought a 40 percent interest in Smashburger Master, the chain’s legal name, back in October 2015 through its through its Bee Good! Inc. subsidiary for an estimated $100 million.

Now it intends to buy another 45 percent interest for another $100 million, company officials said, bringing its ownership stake in Smashburger to 85 percent.