Jollibee Foods Corporation (JFC, also known as Jollibee Group), one of the largest Asian food service companies, disclosed today that it has signed an agreement with a subsidiary of Titan Dining LP (Titan Fund) for the transfer of ownership and management of the Tim Ho Wan business from Titan Fund to Jollibee Group’s wholly owned subsidiary, Jollibee Worldwide Pte. Ltd (JWPL). This will be effected through the transfer of ownership of 100% 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. Completion of this transaction is subject to closing conditions. After which, TPL shall be consolidated into Jollibee Group’s portfolio and financial reports.

JWPL has held a 92% participating interest in Titan Fund since January 2024. Accordingly, its cash payment for the transaction shall only be the amount of SGD 20.2 million, corresponding to the 8% participating interest held by the other investors in Titan Fund.

Tim Ho Wan was founded in 2009 by Chef Mak Kwai Pui, alongside Chef Leung Fai Keung. Back in 2010, Tim Ho Wan earned its own one Michelin star and was once called the most affordable Michelin-starred restaurant in the world. Its Sham Shui Po, Hong Kong restaurant located at 9 Fuk Wing Street has been awarded one Michelin star from 2010 to 2021.
Tim Ho Wan, with around 80 global store footprint across 11 countries, will be the flagship brand for Jollibee Group’s Chinese Cuisine segment. This 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.

Recently launched was a global flagship concept featuring elevated taste of Cantonese cuisine with modern Hong Kong vibe. More to offer beyond dimsum, acclaimed Hong Kong chefs shall offer Hong Kong restaurant mainstays such as Barbecue Roast and wok dishes headlined by Barbecue Pork, Seafood Poached Rice, Soy Sauce Chicken, Crispy Noodles with Lobster in Black Bean Sauce, and Sweet and Sour Pork. These stores are located in Marina Bay Sands (Singapore) and K11 Art Mall (Hong Kong).