Jollibee Group takes full ownership of Tim Ho Wan

JWPL, which already held a 92% stake in Tim Ho Wan, will pay $14.8m to acquire the final 8% interest.

Philippines' Jollibee Foods Corporation (JFC), known as Jollibee Group, has announced that it is set to fully acquire international Michelin-starred dim sum chain Tim Ho Wan.

This move comes as part of a transfer agreement with a subsidiary of Titan Dining LP (Titan Fund), which will see Jollibee Group’s subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL), assume complete ownership of Tim Ho Wan Holdings Pte. Ltd. (TPL), the holding company for Tim Ho Wan.

JWPL, which already held a 92% stake in Tim Ho Wan, will pay $14.8m to acquire the final 8% interest.

Founded in 2009, Tim Ho Wan gained global recognition for its high-quality yet affordable dim sum, notably the Barbecue Pork Buns.

With 80 stores across 11 countries, it will now serve as Jollibee Group’s flagship Chinese cuisine brand.

Tim Ho Wan recently opened flagship locations in Singapore and Hong Kong.