Jollibee Foods Corp. (JFC) to acquire full ownership and control of Tim Ho Wan, a Hong Kong-based dim sum restaurant.
In an article on BusinessWorld, the deal to acquire Tim Ho Wan is worth S$20.2 million or around ₱892.29 million, which is only for the remaining 8% participating interest held by the other investors in Tim Ho Wan (Titan Dining LP).
Before this transaction, Jollibee Worldwide Pte. Ltd. (JWPL), already owns 92% participating interest in Titan Dining LP, since January 2024.
Once done, the ownership and management of Tim Ho Wan (Titan Dining LP) will transfer to Jollibee Worldwide Pte. Ltd. (JWPL), the fast-food operator said in a statement to the stock exchange on Tuesday. Jollibee Worldwide Pte. Ltd. is a subsidiary of Jollibee Foods Corp. (JFC).
Orignated in Hong Kong, Tim Ho Wan, has around 80 stores across 11 countries and will be the Jollibee group’s flagship brand for high-end Chinese cuisine market.
Aside from Tim Ho Wan, Jollibee Foods Corps, also have other Chinese-Style Resto brands under its umbrella like Chow King, Panda Express, Hong Zhuang Yuan and Yonghe King.
