MANILA -- Jollibee Foods Corp (JFC) on Tuesday said its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) is adding capital commitment to Titan Dining LP (“Titan”), the private equity fund that owns Tim Ho Wan.

In a statement, JFC said JWPL's participating interest in Titan will also increase from 90 percent to 92 percent through purchase of a 2 percent participating interest of another limited partner in the fund.

The fund size of Titan will increase from its current S$350 million (P14.71 billion at S$1 = P42) S$450 million (P18.92 billion), JFC said.

Jollibee said this is needed to boost the growth of Tim Ho Wan and other brands and other future food and beverages concepts that will be part of Titan’s portfolio.

In 2021, JWPL also bought out the shares of its remaining partners in Titan Dining.

• Jollibee buys out partners in fund owning Michelin-starred resto Tim Ho Wan

JFC has two joint ventures with Titan for Tim Ho Wan in China, and for operations of Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.

• Jollibee Group to bring Tiong Bahru Bakery, Common Man Coffee Roasters to PH

Tim Ho Wan operates a total of 78 outlets in Asia, mostly franchised stores. Nine of these are in the Philippines.

JFC has 3,318 stores in the Philippines.

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