Sa Jollibee, bida ang saya jud!
Jollibee Foods Corp. (JFC) has acquired full ownership of Michelin-starred restaurant chain Tim Ho Wan (THW), making its brand even more prominent in the Chinese food market. In a recent stock exchange filing, JFC announced that its subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL), has purchased the remaining 8% stake in THW for approximately P892.3 million (SGD 20.2 million).
JWPL had already held a 90% share in Titan Fund, which owns the THW brand, since January 2023. JFC first invested in Titan Fund in 2018, eventually increasing its stake and fully acquiring the company by 2021.
Founded in 2009 in Hong Kong, THW has grown to about 80 locations across 11 countries, including the Philippines. JFC plans to expand THW’s network to 100 stores across Asia and position it as a flagship brand for its Chinese cuisine portfolio.
In total, JFC has invested around P18.3 billion (SGD 434.2 million) in THW.
What It Means for Consumers
Us consumers will expect more expansion and growth for Tim Ho Wan, especially since Jollibee is one of the fastest growing franchises in the Philippines. Therefore, there will be more accessible Michelin-star restaurants in the coming years! In addition, we’d probably also get more menu options leaning to the Filipino taste.
