Jollibee increases stake in Tim Ho Wan to fuel expansion

Fast-food giant Jollibee Foods Corporation (JFC) has increased its stake in Titan Dining (Titan), the private equity fund that owns the Tim Ho Wan brand, to expand the operations of its Michelin-star Asian restaurant chain, according to media reports.

The fund size has now reportedly increased to SG$450 million from the current SG$350 million. This money will go into Tim Ho Wan's store expansion strategy, working capital requirements and the completion of other projects, according to The Manila Times.

Jollibee Worldwide's participating interest in Titan has also now increased from 90% to 92% through the purchase of a 2% participating interest of another limited partner in the fund. This has created a total consideration of SG$7.7 million, according to media reports. 

With the increase, the subsidiary's total commitment to the Titan fund will amount to SG$414 million, according to The Manila Times.

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The company reportedly plans to expand Tim Ho Wan particularly in Mainland China with a goal of 100 restaurant outlets. 

Currently, there are a total of 78 restaurants across Asia operating under the Tim Ho Wan brand.

MARKETING-INTRACTIVE has reached out for more information.

In 2018, JFC reportedly acquired a 45% participating stake in Titan after its first investment of SG$45 million, which led to the opening of Tim Ho Wan in Shanghai.

The following year, JWPL reportedly increased its capital commitment by SG$120 million, bringing its participating interest to 60%.

In 2020, it continued to acquire shares in Titan, bringing its total stake to 85% from 60%. This followed the purchase of a participating interest of 25% from another investor in the fund, which reportedly amounted to SG$36 million.

Following this, JWPL purchased the remaining 15% interests of other investors in Titan, according to media reports, completing the buyout of Tim Ho Wan.

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