Jollibee Foods Corporation, the Philippines’ leading fast-food chain operator, has completed a $15.3 million deal to acquire full ownership of Tim Ho Wan, a renowned Hong Kong dim sum chain. The transaction sees Jollibee Worldwide, a subsidiary, acquire the remaining 8% stake from Titan Fund, which also manages popular brands like Common Man Coffee Roasters and Tiong Bahru Bakery.
Known for its signature fried chicken, Jollibee Foods has recently expanded its footprint across Asia, including ownership stakes in South Korea’s Compose Coffee and Japan’s Yoshinoya. With the addition of Tim Ho Wan, Jollibee solidifies its presence in the Asian dining market and will integrate the brand into its financial portfolio following regulatory approvals.
Source: https://www.channelnewsasia.com/business/jollibee-tim-ho-wan-acquisition-hong-kong-4727901
Photo Credits: https://www.channelnewsasia.com/business/jollibee-tim-ho-wan-acquisition-hong-kong-4727901
