Jollibee Foods takes full ownership of Tim Ho Wan
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Jollibee Foods Corporation has fully acquired Tim Ho Wan, taking over the remaining 8 percent of the Hong Kong restaurant business for SG$20.2 million (US$15.1 million).
Since January this year, Jollibee has held a 92 percent stake at Titan Fund, the owner and manager of Tim Ho Wan.
In a stock exchange filing, JFC said its subsidiary Jollibee Worldwide signed an agreement with Titan Fund to acquire the remaining minority stake.
Founded in 2009, Tim Ho Wan now has 80 stores across 11 countries. It will be Jollibee’s flagship brand for its Chinese cuisine segment.
Aside from its dimsum, Tim Ho Wan is also known for barbecue pork buns, steamed rice roll stuffed with barbecue pork, pan fried turnip cake, and steamed egg cake.
Questions & Answers
Q.What was the total cost for Jollibee Foods to acquire the remaining stake in Tim Ho Wan?
What was the total cost for Jollibee Foods to acquire the remaining stake in Tim Ho Wan?
Jollibee Foods paid SG$20.2 million (US$15.1 million) to acquire the final 8 percent of the Hong Kong restaurant business. This transaction completed their full ownership of Tim Ho Wan.
Q.How long has Jollibee Foods held a majority stake in Tim Ho Wan?
How long has Jollibee Foods held a majority stake in Tim Ho Wan?
Jollibee Foods Corporation has held a 92 percent stake in Titan Fund, the owner of Tim Ho Wan, since January of this year. This latest acquisition made them full owners.
Q.How many Tim Ho Wan locations are there globally and in how many countries?
How many Tim Ho Wan locations are there globally and in how many countries?
Tim Ho Wan currently operates 80 stores across 11 different countries. It was founded in 2009 and is expanding its international presence.
Q.Which of Jollibee's subsidiaries was involved in the final acquisition of Tim Ho Wan?
Which of Jollibee's subsidiaries was involved in the final acquisition of Tim Ho Wan?
Jollibee Worldwide, a subsidiary of Jollibee Foods Corporation (JFC), signed an agreement with Titan Fund to acquire the remaining minority stake in Tim Ho Wan.