A Jollibee food truck in the Philippines. Credit: Judgefloro / commons.wikimedia.org.

Philippines-based fast-food restaurant company Jollibee Foods Corporation (JFC) is reportedly planning to acquire the remaining partners in Titan Dining, a fund that owns restaurant chain Tim Ho Wan.

In its disclosure to the Philippine Stock Exchange, JFC said the deal will be executed by its wholly-owned subsidiary Jollibee Worldwide Pte Limited (JWPL).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Currently, JWPL owns an 85% participating stake in Titan Dining and intends to acquire the remaining 15% stake from other investors for a consideration of $52.6m (S$71.56m).

Upon completion of the deal, JFC will own 100% interest in Titan Dining.

Tim Ho Wan has a total of 53 restaurant outlets in Asia, which are located in Singapore, Taiwan, the Philippines and Hong Kong.

Going forward, JFC intends to expand Tim Ho Wan’s presence in China and has set a target of opening 100 new restaurant outlets in the next four years.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last September, JFC reportedly opened the first Tim Ho Wan restaurant in Shanghai, under a joint venture with Titan Dining.

Currently, the joint venture operates three restaurants in Shanghai.

At present, JFC has five brands that offer Chinese cuisine, namely Chowking, Yonghe King, Hong Zhuang Yuan, Panda Express and Tim Ho Wan.

In September 2019, Jollibee Foods announced the expansion of its presence in the US with the opening of two restaurants in California.

The expansion was part of the company’s strategy to strengthen its presence in the US and globally, as well as build upon its commitment to expand its store network in the US to 150 locations by 2023.

The two stores marked the company’s 38th and 39th locations in the country, as well as its 45th and 46th stores in North America.