Jollibee to fully own, manage Michelin-starred Tim Ho Wan
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Jollibee to fully own, manage Michelin-starred Tim Ho Wan
Arthur Fuentes,
ABS-CBN News
Published Nov 05, 2024 04:35 PM PHT


MANILA - Jollibee Food Corp (JFC) is taking over the management and ownership of the Michelin-starred Tim Ho Wan restaurant chain, the Filipino-owned company said on Tuesday.
MANILA - Jollibee Food Corp (JFC) is taking over the management and ownership of the Michelin-starred Tim Ho Wan restaurant chain, the Filipino-owned company said on Tuesday.
In a disclosure to the stock exchange, JFC said its subsidiary, which currently holds a 92 percent stake in Tim Ho Wan, will acquire the remaining 8 percent stake of other investors in Titan Fund, which operates the restaurant chain. The deal is valued at 20.2 million Singaporean dollars, JFC said.
In a disclosure to the stock exchange, JFC said its subsidiary, which currently holds a 92 percent stake in Tim Ho Wan, will acquire the remaining 8 percent stake of other investors in Titan Fund, which operates the restaurant chain. The deal is valued at 20.2 million Singaporean dollars, JFC said.
Jollibee added that after this deal with Titan Fund, the ownership and management of the Tim Ho Wan business will be transferred from Titan Fund to Jollibee’s wholly owned subsidiary, Jollibee Worldwide Pte.
Jollibee added that after this deal with Titan Fund, the ownership and management of the Tim Ho Wan business will be transferred from Titan Fund to Jollibee’s wholly owned subsidiary, Jollibee Worldwide Pte.
After this transaction is completed, Tim Ho Wan Holdings "shall be consolidated into Jollibee Group’s portfolio and financial reports," JFC said.
After this transaction is completed, Tim Ho Wan Holdings "shall be consolidated into Jollibee Group’s portfolio and financial reports," JFC said.
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Tim Ho Wan was once called the most affordable Michelin-starred restaurant in the world, after its Sham Shui Po, Hong Kong restaurant was awarded one Michelin star from 2010 to 2021.
Tim Ho Wan was once called the most affordable Michelin-starred restaurant in the world, after its Sham Shui Po, Hong Kong restaurant was awarded one Michelin star from 2010 to 2021.
"Tim Ho Wan, with around 80 global store footprint across 11 countries, will be the flagship brand for Jollibee Group’s Chinese Cuisine segment," JFC said.
"Tim Ho Wan, with around 80 global store footprint across 11 countries, will be the flagship brand for Jollibee Group’s Chinese Cuisine segment," JFC said.
The restaurant is known for Hong Kong-style dishes like Barbecue Pork Buns and other specialties such as the Steamed Rice Roll stuffed with Barbecue Pork, Pan Fried Turnip Cake and Steamed Egg Cake.
The restaurant is known for Hong Kong-style dishes like Barbecue Pork Buns and other specialties such as the Steamed Rice Roll stuffed with Barbecue Pork, Pan Fried Turnip Cake and Steamed Egg Cake.
JFC has been expanding its portfolio of brands worldwide with recent acquisitions such as Korea's Compose Coffee and Japan's Milksha. It also struck deals to bring Common Man Coffee Roasters and Tiong Bahru Bakery to the Philippines.
JFC has been expanding its portfolio of brands worldwide with recent acquisitions such as Korea's Compose Coffee and Japan's Milksha. It also struck deals to bring Common Man Coffee Roasters and Tiong Bahru Bakery to the Philippines.
Last year, a global brand strategy consultant, said Jollibee's brand value soared by 51 percent to $2.3 billion, jumping from rank 20 to rank 17 in its 2024 Global Restaurant Rankings. Jollibee is the only Philippine brand in the list of Top 10 Strongest Restaurant Brands in 2024.
Last year, a global brand strategy consultant, said Jollibee's brand value soared by 51 percent to $2.3 billion, jumping from rank 20 to rank 17 in its 2024 Global Restaurant Rankings. Jollibee is the only Philippine brand in the list of Top 10 Strongest Restaurant Brands in 2024.
JFC's net income went up by 29 percent to P5.7 billion in the first half of 2024.
JFC's net income went up by 29 percent to P5.7 billion in the first half of 2024.
Read More:
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Jollibee
JFC
Tim Ho Wan
Michelin star
Compose Coffee
Common Man Coffee Roasters
Tiong Bahru
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