Jollibee Foods Corporation (JFC) said Tuesday it is transferring its stake and management of the Tim Ho Wan business to wholly-owned subsidiary Jollibee Worldwide Pte. Ltd (JWPL).
Prior to the plan, JFC-led Titan Dining LP (Titan Fund) owns and manages Tim Ho Wan.
JFC said in a disclosure to the stock exchange the deal would involve 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.
It said the completion of the transaction is subject to closing conditions.
JWPL owns a 92-percent participating interest in Titan Fund since January 2024, while the remaining 8 percent is owned by JFC.
Tim Ho Wan was founded in 2009 by Chef Mak Kwai Pui, alongside Chef Leung Fai Keung. The brand is known for bringing the best of Hong Kong to the world through its world-renowned dishes Barbecue Pork Buns and other specialties such as the Steamed Rice Roll stuffed with Barbecue Pork, Pan Fried Turnip Cake and Steamed Egg Cake.
Tim Ho Wan, with around 80 global store footprint across 11 countries, will be the flagship brand for Jollibee Group’s Chinese cuisine segment.
