Jollibee Foods Corp. to Operate Tim Ho Wan in China


The Jollibee Foods Corp. (JFC) signed a joint venture agreement to expand and operate China’s Tim Ho Wan, a prominent Chinese restaurant.

Moreover, Jollibee Foods Corp seeks to operate Tim Ho Wan in Shanghai and other cities in China.

The formed joint venture of company will seal a unit franchise agreement with Tim Ho Wan Pte. Ltd. — the master franchisor of Tim Ho Wan in the Asia Pacific through a signed agreement of Golden Plate Pte. Ltd. (GPPL), a wholly-owned subsidiary of JFC, and Dim Sum Pte. Ltd. (DSPL ).

” GPPL will own 60% of the business while DSPL — a unit of Titan Dining Holdings Pte. Ltd. that owns and operates Tim Ho Wan in Singapore — will have the remaining 40%. Both companies will invest up to $13 million to their joint venture company, which will have its own resources and personnel to operate the business,” Philstar news reported.

JFC has been expanding its footprint by acquiring foreign businesses.

“JFC increased its investment in Tim Ho Wan, giving the conglomerate the opportunity to have a significant interest in the franchise in the long term,” report stated.


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