Black Shamrock Partners Completes Sale of Smashburger to Jollibee Foods Corporation

World-Renowned Global Restaurant Group Buys Full Control from BSP

DENVER–(BUSINESS WIRE)–Black Shamrock Partners (BSP), formerly Consumer Concept Group &
Affiliates, today announced that Jollibee Foods Corporation (PSE: JFC),
Asia’s largest food service company, has acquired the remaining 15
percent of Smashburger, the Denver-based “better burger” concept,
bringing Jollibee full ownership of the brand.

In 2015, Smashburger entered into a strategic partnership with Jollibee
Foods Corporation to sell 40 percent of the Company at a $335M USD
value. In February of this year, Jollibee agreed to acquire an
additional 45 percent of the company for $100M USD, bringing their
ownership stake to 85 percent total at that time.

Rick Schaden, BSP Co-Founder and Chairman, stated, “We could not be more
pleased with the partnership we have developed with Jollibee and are
thrilled to complete this transaction with a global restaurant
powerhouse. We have no doubt that with their leadership, the brand will
continue to succeed and grow for years to come.”

BSP has extensive experience in creating and growing successful brands,
having founded the Smashburger concept in 2007. Leveraging its
leadership in the Experience Based Lifestyle Economy, BSP is also the
owner of Tom’s Urban, a fast growing eater-tainment concept, and Motiv,
an experiential company with a portfolio of brands within the sports and
entertainment sector, including running and endurance events, triathlons
and festivals.

About Black Shamrock Partners
Black Shamrock Partners (BSP),
formerly Consumer Concept Group, is an innovative investment and
operating company, focused on launching, operating and investing in
consumer, franchising and lifestyle brands. They also invest
opportunistically in private businesses, real estate and alongside
alternative investment managers. Black Shamrock Partners is guided by a
relentless focus on investing in tomorrow’s demands and is managed by a
group of officers with deep expertise in the restaurant, lifestyle,
entertainment and sports industries. Their investment philosophy is
rigorously centered on aligning interests and the virtues of patient
capital, allowing them to pursue growth plans and make strategic
decisions solely in the best interests of the companies in which they
invest.

Contacts

Media:
Jim Furrer, ICR for Black Shamrock Partners
(646)277-1808
BlackShamrock@icrinc.com