MANILA — Jollibee Foods Corp said on Friday it has formed a joint venture with Food Collective Pte Ltd (FCPL) to bring Tiong Bahru Bakery and Common Man Coffee Roasters to the Philippines.

Tiong Bahru Bakery is known for its croissants, coffee and other baked goods, produced using traditional techniques, JFC said. Common Man Coffee Roasters, meanwhile, is popular for its specialty coffee. It offers coffee roasting and a Coffee Barista Academy, it added.

The JV will be the franchisee that will own and operate the 2 brands in the country, JFC said in a disclosure to the stock exchange.

It said Common Man will operate in the country this year.

JFC said it would own 60 percent of the business while FCPL would hold the remaining 40 percent, with JFC taking the lead in the management and operations of the business.

Both firms will invest up to P250 million in the joint venture, the country's largest restaurant operator said.

FCPL, incorporated in Singapore, is a subsidiary of Titan Lifestyle Holdings Pte Ltd of Titan Dining LP, in which JFC has a 90 percent participating interest. It owns lifestyle brands such as Tiong Bahru Bakery and Common Man Coffee Roasters.

“We are excited to enter this joint venture with FCPL to own and operate the Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines," JFC Chief Executive Officer Mr. Ernesto Tanmantiong said.

"These brands will be a strong addition to JFC’s foreign franchised brands and will allow JFC to capture an even greater opportunity and strengthen JFC’s position for further growth in the Philippine market," he added.

To date, there are 16 Tiong Bahru Bakery and 5 Common Man Coffee Roasters across Singapore and Malaysia.

JFC, meanwhile, operates 3 foreign franchised brands in the Philippines which are Burger King, Panda Express and Yoshinoya. In total, the JFC Group operates 6,617 stores globally.

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