JOLLIBEE Foods Corp. has signed an agreement with a subsidiary of Titan Dining LP (Titan Fund) for the transfer of ownership and management of the Tim Ho Wan business from Titan Fund to its wholly owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL).
“This will be effected through the transfer of ownership of 100 percent of Tim Ho Wan Holdings Pte. Ltd. (TPL), the holding company of the Tim Ho Wan business, from a subsidiary of Titan Fund, to JWPL,” Jollibee said.
The completion of the transaction is subject to “closing conditions,” Jollibee said but did not elaborate.
TPL will then be consolidated into the Jollibee Group’s portfolio and financial reports.
JWPL has held a 92 percent participating interest in Titan Fund since January 2024.
Jollibee said the acquisition of TPL will only amount to SGD20.2 million, corresponding to the 8 percent participating interest held by the other investors in Titan Fund.
Tim Ho Wan, with around 80 global store footprint across 11 countries, will be the “flagship brand for Jollibee Group’s Chinese cuisine segment,” it added.
“This brand is known for bringing the best of Hong Kong to the world through its world-renowned dishes barbecue pork buns and other specialties,” Jollibee said.
Tim Ho Wan was founded in 2009 by Chef Mak Kwai Pui, alongside Chef Leung Fai Keung.
Tim Ho Wan earned its one Michelin star in 2010.
