Jollibee takes over Tim Ho Wan in march to be one of top 5 food companies in the world

📆 05/11/2024 19.46.00
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Food And Beverage Industry Berita

Fast-Food Restaurants,Mergers And Acquisitions,Singapore

Jollibee Foods, founded by Filipino tycoon Tony Tan Caktiong, eyes expanding its Chinese cuisine business, especially in mainland China, the focus of its international campaign

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In a disclosure titled “Tim Ho Wan Ownership and Management to Transfer to JFC Metro Manila” on Tuesday, November 5, publicly listed JFC said JWPL will completely take over Tim Ho Wan after paying 20 million Singapore dollars — around P885 million — equivalent to 8% interest held by investors in Titan Fund.

Tim Ho Wan now has 19 stores in mainland China, which JFC said was the focus of its “bold international expansion campaign.”

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