MANILA— Jollibee Foods Corp said Tuesday it would increase its commitment to Titan Dining LP, the equity fund that owns the Tim Ho Wan brand, as part of amendments to an existing Limited Partnership Agreement.

Part of the amendment is the increase in fund size of Titan to S$250,000,000 from S$200,000,000 to fund capital and complete other projects, JFC said in a disclosure to the stock exchange.

This will result in additional investors who will be taking up a 10-percent participating interest in Titan and the increase in JFC unit Jollibee Worldwide Pte Ltd's (JWPL) total commitment to the fund to S$225,000,000 or 90 percent of the increased fund size, it added.

In August 2021, JFC said it has acquired the shares of the remaining partners in the fund that owns the Michelin-starred restaurant.

• Jollibee buys out partners in fund owning Michelin-starred resto Tim Ho Wan
• Jollibee says to buy remaining shares in fund owning Tim Ho Wan brand

JFC said it plans to "aggressively expand" Tim Ho Wan in mainland China with a target of 100 stores within the next 4 years.

"JFC aims to build as an important part of its portfolio a significant business serving Chinese cuisine in different parts of the world," it said.

JFC currently has 5 brands serving Chinese cuisine namely Chowking, Yonghe King, Hong Zhuang, Panda Express and Tim Ho Wan.

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