JFC completes take over of Tim Ho Wan

MANILA, Philippines — Asian food conglomerate Jollibee Foods Corp. (JFC) has completed its take over of the management and ownership of Tim Ho Wan.

JFC, through its wholly owned subsidiary, Jollibee Worldwide Pte. Ltd (JWPL), in November last year entered into a share purchase agreement with Titan Dining Group Ltd., a subsidiary of Titan Dining LP (Titan Fund), for the acquisition by JWPL of 166.46 million shares of Tim Ho Wan Holdings Pte. Ltd. (TPL), the owner and operator of Tim Ho Wan, for 20.2 million Singapore dollars.

In a stock exchange filing yesterday, JFC said that the transaction has been completed on Jan. 2.

The transaction will be effected through the transfer of ownership of 100 percent of TPL from a subsidiary of Titan Fund to JWPL.

JWPL has held a 92-percent participating interest in Titan Fund Since January 2024.

With the transaction’s completion, TPL will be consolidated into Jollibee Group’s portfolio and financial reports.

Tim Ho Wan will be the flagship brand for the Jollibee Group’s Chinese cuisine segment.

Founded in 2009, Tim Ho Wan was once called the most affordable Michelin-starred restaurant in the world.

The brand is known for bringing the best of Hong Kong to the world through its world-renowned dishes and specialties.

It has a global store footprint of around 80 across 11 countries at present.

Recently launched was a global flagship concept featuring elevated taste of Cantonese cuisine with modern Hong Kong vibe.