Jollibee enters JV to launch two new restaurant brands in the Philippines

The fast-food giant has partnered with Singapore-incorporated firm Food Collective, Pte. Ltd for the JV.

Jollibee Foods Corporation will bring Tiong Bahru Bakery and Common Man Coffee Roasters through a joint venture company with Singapore-incorporated firm Food Collective, Pte. Ltd (FCPL).

According to the fast-food giant’s disclosure in the Philippine Stock Exchange, the joint venture company will be the franchisee for Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.

JFC will own 60% of the JV company whilst FCPL will own 40%. The JV company will initially have an authorized capital stock of the Philippine Peso equivalent of P250m and plan to open at least one Common Man Coffee Roasters in 2023.

FCPL is a majority-owned subsidiary of Titan Lifestyle Holdings Pte. Ltd., a wholly-owned subsidiary of Titan Dining LP in which JFC has a 90% participating interest. The company is incorporated in Singapore and its primary activity is owning and operating lifestyle brands, including Tiong Bahru Bakery and Common Man Coffee Roasters.

JFC said that these brands will be a strong addition to its foreign franchised brands and will allow JFC to capture an even greater opportunity and strengthen its position for further growth in the Philippine market.

According to JFC, the new company will have its own management whilst JFC will provide support.

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