Jollibee Foods Corp is the biggest fastfood chain in the Philippines.

On Wednesday, Philippines’ Jollibee Foods Corp stated it is in the process of acquiring Coffee Bean & Tea Leaf, a U.S. brand, for $100 million.

In a financial disclosure to the stock exchange, Jollibee stated, it would acquire 100% of the Los Angeles-based specialty coffee and tea brand to boost its overseas sales.

Jollibee is the largest fastfood chain in the Philippines with 3,195 restaurants. It also operates 1,418 stores across various brands, overseas.

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Tags: brand, coffee, Coffee Bean & Tea Leaf, financial disclosure, Jollibee Foods Corp, LA, Los Angeles, M&A, mergers and acquisition, overseas sales, Philippines, specialty, stock exchange, tea, U.S. brand