MANILA – Jollibee Foods Corp (JFC) has completed its full acquisition of Michelin-starred restaurant chain Tim Ho Wan, further strengthening its global presence in the Chinese cuisine segment. The company’s subsidiary, which previously owned 92% of Tim Ho Wan, has now acquired the remaining 8% stake from Titan Fund for SGD 20.2 million, making it a wholly owned entity of JFC.
Jollibee Acquisition of Tim Ho Wan: A New Cornerstone for Global Expansion
With this move, Tim Ho Wan becomes the cornerstone of Jollibee’s Chinese cuisine business, which now operates approximately 80 locations worldwide. Famous for its Barbecue Pork Buns and Steamed Rice Rolls, Tim Ho Wan aligns with Jollibee’s strategy to introduce authentic Asian flavors to international markets.
Jollibee’s Global Growth Strategy
Jollibee has been on a rapid expansion path, recently acquiring Compose Coffee and Milksha, further diversifying its portfolio. As a result, Jollibee’s brand value surged by 51% to $2.3 billion in 2024, cementing its status as one of the world’s top restaurant brands.
JFC has reported impressive financial results, with its net income rising by 29% in the first half of 2024. This growth reflects its successful acquisitions and global market expansion, reinforcing Jollibee’s competitive edge in the food service industry.
This acquisition also caught the attention of Midori Business News Philippines, highlighting Jollibee’s aggressive expansion strategy and its impact on the Asian food market.
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