Cover Photo courtesy of Jollibee Official Facebook Page
Photo courtesy of Jollibee Official Facebook Page
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Tony Tan Caktiong's Jollibee Foods Corporation buys-out remaining shareholders, taking ownership of Asian restaurant chain, Tim Ho Wan
Big news in the dining industry today as Philippine home-grown powerhouse Jollibee Foods Corporation officially takes full ownership of Tim Ho Wan.
Founded and helmed by tycoon Tony Tan Caktiong, Jollibee started from humble roots as an ice-cream parlour and swiftly grew into the Philippines' most famous fried chicken joint, and an international fast-food conglomerate with over 6000 locations worldwide.
In 2018 Jollibee bought into the Tim Ho Wan parent company, Titan Dining, investing $33.1 million dollars for a 45 per cent stake in the group, in later years increasing their stronghold to 80 per cent ownership.
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In a statement to the Philippine Stock Exchange it was revealed that JFC’s private equity fund Jollibee Worldwide Pte. Ltd bought out the remaining stakeholders of Titan Dining LP for 71.56 million Singapore dollars (SGD) or PHP2.65 billion.
Jollibee has undertaken a competitive, bold and dynamic expansion in international F&B waters, with more than 270 international branches in the United States, Canada, Hong Kong, Macau, Brunei, Vietnam, Singapore, Malaysia, Saudi Arabia, United Arab Emirates, Qatar, Oman, Kuwait, Bahrain, Italy, and in the United Kingdom. Now, Tim Ho Wan's 53 stores in Asia, more concentrated in Singapore, Taiwan, the Philippines, and Hong Kong, will join the brand's registered outlets.
JFC announced to the Philippine Stock Exchange that they have plans to further strengthen their global portfolio. In fact, the company’s subsidiaries include: Chowking, Greenwich, Mang Inasal, Red Ribbon, Burger King, and Dunkin Donuts amongst others. To date, JFC is one of the largest players in Asia and is “among the top five restaurant operators in the world.”
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Isabel loves to learn, and see things from different perspectives. Connecting with people and engaging in new experiences to broaden her horizons is what inspires this storyteller, keeping her constantly curious, and excited for what's to come. An absolute love for all things F&B ignited a hunger to devour content from this world and keeps her jumping into tasty adventures around the globe. From the beauty of simple bites, to nuanced fine dining tasting menus, street food, and the art of entertaining, the multi-faceted nature of the dining experience is something she can't get enough of. A good cup of coffee or a glass of wine paired with a dash of witty conversation is a quick way to win her over. This editor loves travelling, food, music, skincare, fitness, and is only friends with people who love dogs. Guilty pleasure?: Binge-watching TV shows and movies she has already seen.
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Concept creation is the name of the game and branding takes centre stage in Isabel's day-to-day schedule. From producing shoots, conceptualising bespoke projects for our partners, relationship management, to cooking up features and events for Tatler Dining, this editor is a tried and tested foodie at heart. She mainly writes content for Tatler Dining, engaging in captivating discussions with restaurateurs, chefs, producers, and food enthusiasts to tell must-know stories. Aside from that Isabel manages Tatler Dining's flagship events like Off Menu, or Cocktail Festival and puts together the Tatler Dining Guide, our annual listing of the best eats around town.
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