MANILA -- Filipino restaurant giant Jollibee Foods is attempting to set itself up for rapid growth once the pandemic winds down with an aggressive global brand acquisition strategy that is moving the group further away from its fast-food roots.
In August, the company said it would acquire the remaining 15% stake in Tim Ho Wan from its partner Titan Dining for 71.56 million Singapore dollars ($52.8 million). Jollibee initially bought a 45% interest in Tim Ho Wan for SG$45 million in May 2018, then gradually increased the stake up to 85% as of October 2020.
