Jollibee bolsters investment in Tim Ho Wan parent
JFC previously invested in the group in 2018.
Jollibee Food Corporation (JFC) has announced its additional capital commitment to Tim Ho wan parent Titan Dining LP through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd.
The fund size of Titan will increase from its current S$350m ($263.09m) to S$450m ($338.26m), to fund the store expansion plans and working capital requirements of Tim Ho Wan and the completion of other projects.
JWPL’s participating interest in Titan will also increase from 90% to 92% through the purchase of 2% participating interest of another limited partner in the fund for a total consideration of S$7.7m ($5.79m). With the increase in fund size, JWPL’s total commitment to the fund shall amount to S$414m ($311.20m).
According to JFC’s regulatory filing, these amendments are necessary to support the growth expansion of Tim Ho Wan, other brands and other future food and beverages concepts that will be part of Titan’s portfolio.
Tim Ho Wan operates a total of 78 outlets in Asia, mostly franchised stores with 40 in China, 11 in Singapore, and nine in the Philippines. Titan also operates Tiong Bahru Bakery (TBB) and Common Man Coffee Roasters (CMCR).
