Jollibee increases stake over Tim Ho Wan brand

Jollibee Worldwide’s participating interest grew to 92%.

Jollibee Worldwide Pte. Ltd. (JWPL) has placed an additional capital commitment to its stake in Titan Dining LP (Titan), the owners of the Tim Ho Wan brand, and its additional store brands.

The fund size of Titan will grow from $263.7m (S$350m) to $339m (S$450m), intended for Tim Ho Wan’s expansion and working capital requirements, in addition to other projects.

With the increased stake, JWPL’s participating interest will expand from 90% to 92%, in cooperation with another limited partner for the funding of a total consideration of $5.8m (S$7.7m). This will bring JWPL’s total commitment to $311.9m (S$414m).

Back in May 2018, JFC invested $33.9m (S$45m) in Titan and bought a 45% participating interest to become the master franchisee of the Tim Ho Wan brand in the APAC region.

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Starting with a franchise operation in Shanghai, JWPL has propelled Tim Ho Wan’s expansion, eventually raising its commitment to $90.4m (S$120m) and its participating interest to 60%. In turn, by 2019, the fund size had also grown from $75.3m (S$100m) to $150.7m (S$200m).

In August 2021, JFC purchased all of the participating interests of Tim Ho Wan, gaining control of its trademark and its partner brands.

Currently, the Michelin-star restaurant brand has set plans for expansion in Mainland China with 100 outlets.