Jollibee plots Tim Ho Wan expansion in China

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Photo from: Inside Retail Asia

By Inside Retail Asia

Philippines food service company, Jollibee Foods Corporation (JFC), has injected additional capital into Titan Dining, which owns dim sum chain Tim Ho Wan, to fund the chain’s expansion in China.

JFC said in its filings that the fund size of Titan will increase to US$241.8 million from $172.7 million currently and will be used for “the store expansion plans and working capital requirements of Tim Ho Wan as well as facilitate the completion of other projects”.

After the additional investment, JFC’s subsidiary, Jollibee Worldwide, will own 90 per cent of Titan with a commitment to the fund amounting to $217.5 million.

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