JOLLIBEE Foods Corp. (JFC) and Food Collective Pte. Ltd. (FCPL) on Friday, Aug. 4, 2023, announced the establishment of a joint venture company (JVCo) that will own and operate Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.
JFC will own 60 percent of the business, while FCPL will own the remaining 40 percent.
Both companies have committed to invest up to P250 million to the JVCo, which shall have its own resources and personnel with JFC taking the lead in the management and operation of the business.
The JVCo will be the franchisee of both brands in the Philippines. FCPL is a majority-owned subsidiary of Titan Lifestyle Holdings Pte. Ltd., a wholly owned subsidiary of Titan Dining LP in which JFC has a 90 percent participating interest.
The company is incorporated in Singapore and its primary activity is owning and operating lifestyle brands, including Tiong Bahru Bakery and Common Man Coffee Roasters.
There are currently 16 Tiong Bahru Bakery and five Common Man Coffee Roasters across Singapore and Malaysia.
Tiong Bahru Bakery, on the other hand, is famous for being the “Home of the Hand-made Croissants” and for its baked goods and coffee.
Common Man Coffee Roasters operates all-day dining restaurants in Singapore and Malaysia.
JFC currently operates three foreign franchised brands in the Philippines, namely Burger King (127 stores), Panda Express (18 stores) and Yoshinoya (seven stores).
Common Man Coffee Roasters will start its operation in the Philippines in 2023. (PR)