MANILA -- Philippine fast-food leader Jollibee Foods is investing up to 45 million Singapore dollars ($33.5 million) in a fund that is poised to become the new master franchise holder of Tim Ho Wan, a popular dim sum chain.
Jollibee Worldwide, a unit of Jollibee Foods, said Wednesday it will pump that amount into Titan Dining, a S$100 million private equity fund, which has struck a binding agreement for the acquisition of Tim Ho Wan (THWPL) and affiliate Dim Sum, which owns and runs the brand in the city-state.
