SINGAPORE: The parent company of , Philippine fast-food operator Jollibee announced on Tuesday ( Nov 5 ) that it had reached a deal to acquire Hong Kong dim sum chain Tim Ho Wan for S$ 20.2 million ( US$ 15.3 million ).
In a registration to the Philippine , Securities and Exchange Commission, Jollibee Foods Corporation said that it , had signed an agreement for the transfer of ownership and management of Tim Ho Wan from Titan Fund to a company, Jollibee Worldwide.
Popular Man Coffee Roasters and Tiong Bahru Bakery are owned and operated by Titan, a private capital fund, along with non-food and product brands like Browhaus and Strip.
Since January, Jollibee Worldwide has a 92 % stake in Titan, according to the filing.  ,
Jollibee Foods , said that it would give the S$ 20.2 million deal in money, adding that the , number equates to the 8 per cent , participating fascination held by Titan’s additional owners.
It stated that final conditions were required for the transaction’s completion. The investment and financial reports for Jollibee Food will then contain Tim Ho Wan.
Best known for its stores selling fried meat, Jollibee Foods even owns and operates Yoshinoya,  , Common Man Coffee Roasters and Tiong Bahru Bakery shops in the Philippines.
In July, it , took power of , South Korea’s Compose Coffee, which has over 2, 700 sources in its home state.
It likewise invested US$ 100 million to get American caffeine chain , The Coffee Bean &, Tea Leaf in 2019.  ,