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Jollibee Foods Corp has acquired a 51 per cent stake in the Taiwanese firm, Milkshop International Co. Ltd., that owns Milksha and Milkshop.

One of the co-founders of Milkshop will continue to retain 49-percent ownership of Milkshop.

Jollibee bought the 51 per cent stake for S$17.3 million.

According to Business Mirror, the completion of this move is subject to certain closing conditions, and the final purchase price will be confirmed after closing.

Milkshop has over 250 outlets worldwide, including two in Singapore.

Earlier this year, Jollibee announced plans to bring Milksha over to The Philippines.

Here is another thing that Jollibee bought:

Image from Jollibee and Milksha