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Jollibee invests SG$45m to acquire the Tim Ho Wan franchise in APAC
The venture is said to eventually allow substantial control of the master franchise for Asia Pacific.
According to a CNN report, Jollibee Food Corporation announced it will invest up to SG$45 million, or around P1.74 billion, in Singaporean company Titan Dining LP. Titan and its affiliate Dim Sum Pte. Ltd, which owns and operates Tim Ho Wan stores in Singapore.
According to the disclosure, THWPL holds the exclusive long-term master franchise to operate the "Tim Ho Wan" food and beverage business within the Asia Pacific region, excluding Hong Kong. Aside from DSPL in Singapore, THWPL also has franchisees in Cambodia, Indonesia, Japan, Macau, Taiwan, Thailand, Vietnam, Australia, and the Philippines.
