Jollibee invests more in Titan Dining

April 4, 2024 | 12:00am

MANILA, Philippines —  Filipino-owned Asian food conglomerate Jollibee Foods Corp. (JFC) has expanded its investments Titan Dining Partners Ltd., which manages Titan Dining LP, the private equity fund which owns the Tim Ho Wan brand and company-owned Tim Ho Wan stores.

In a disclosure, JFC said its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) participated and made a capital call commitment to Titan Dining II LP.

JWPL will have 90 percent participating interest in Titan Fund II, with a capital commitment of S$90 million.

“Titan Fund II will be managed by Titan Dining Partners II Ltd., consisting of individuals with extensive experience in the food and beverage sector in the Asia Pacific Region,” JFC said.

According to JFC, the fund size of Titan Fund II will be S$100 million.

The fund size will be used to fund strategic investments in food and beverage concepts with the objective to further grow Asia-Pacific food service brands and bring strong global food service brands to Asia-Pacific.

In January, JFC said it would provide additional capital commitment to Titan Dining LP through JWPL.

Titan Dining LP is managed by Titan Dining Partners Ltd.

JFC is one of the largest Asian food service companies with 18 brands in 33 countries.

JFC’s store network as of end-February stood at 6,902 stores worldwide, consisting of 3,336 in the Philippines and 3,566 abroad.