LISTED fast food giant Jollibee Foods Corp. (JFC) has committed S$90 million worth of capital through Titan Dining II LP (Titan Fund II) to support the growth of the company’s brands in the Asia-Pacific region.
The company said its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) will infuse the capital in the Titan Fund II, which has a size of S$100 million.
“The fund… will be used (for) strategic investments in food and beverage concepts with the objective to further grow Asia-Pacific food service brands and/or bring strong global food service brands to Asia-Pacific,” JFC said.
JWPL will have a 90% participating interest in Titan Fund II. The fund will be managed by Titan Dining Partners II Ltd., which consists of individuals with extensive experience in the food and beverage sector in the Asia-Pacific region.
In January, JWPL hiked the fund size of Tim Ho Wan brand owner Titan Dining LP to S$450 million from S$350 million to fund the store expansion plans and working capital requirements of Tim Ho Wan and the completion of other projects.”
As of end-February, JFC operates 6,902 stores worldwide, consisting of Philippines with 3,336 and international at 3,566.
Of its international stores, 557 in China, 388 in North America, 344 in Europe, the Middle East and Africa, 789 with Highlands Coffee mainly in Vietnam, 1,172 with The Coffee Bean & Tea Leaf, and 316 with Milksha.
JFC shares fell by 2.1% or P5.20 to P242 apiece on Wednesday. — Revin Mikhael D. Ochave
