Jollibee to boost investment in Titan Dining

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Filipino-owned restaurant chain Jollibee Food Corps (JFC) is reportedly boosting investment in Titan Dining II (Titan) with a SG$90 million capital commitment.

The investment is part of JFC's plans to expand in the Asia-Pacific (APAC) region, according to PhilStar.

Don't miss: Jollibee increases stake in Tim Ho Wan to fuel expansion

The investment would reportedly be made through JFC's wholly owned subsidiary, Jollibee Worldwide. Jollibee Worldwide (JWPL) will then infuse the capital in Titan, which has a size of SG$100 million.

The fund will be used for strategic investments in food and beverage concepts with the objective to further grow APAC food services, and bring strong global food service brands to APAC, JFC reportedly said.

In addition, JWPL will reportedly have a 90% participating stake in Titan.

Earlier in January, JFC increased its stake in Titan, to expand the operations of Tim Ho Wan.

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.

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

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