Jollibee Foods Corporation (JFC) is expanding its global footprint by acquiring the renowned Michelin-starred Asian restaurant chain, Tim Ho Wan.
In a recent announcement, JFC revealed that it has entered into an agreement with Titan Dining LP to purchase Tim Ho Wan. This strategic move will see JFC's subsidiary, Jollibee Worldwide Pte. Ltd., take over the ownership and management of the popular dim sum chain.
Valued at approximately 20.2 million Singaporean dollars (PHP 887 million), the acquisition will integrate Tim Ho Wan into JFC's portfolio. This will allow the Filipino-owned food conglomerate to leverage its expertise and resources to further expand the brand's global reach.
Tim Ho Wan currently operates 78 outlets across Asia, primarily in China, Singapore, and the Philippines. The chain's Hong Kong branch in Sham Shui Po has earned a Michelin star from 2010 to 2021, recognizing its exceptional culinary offerings.
Known for its delectable Hong Kong-style dishes, such as Barbecue Pork Buns, Steamed Rice Roll, Pan Fried Turnip Cake, and Steamed Egg Cake, Tim Ho Wan has captured the hearts of food enthusiasts worldwide.
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