JOLIBEE Foods Corp. (JFC) and Food Collective Pte. Ltd. (FCPL) 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.
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.
JVCo will be the franchisee for Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.
Completion of this transaction is subject to standard legal agreements and regulatory authority approval.
These brands, according to JFC, will be a strong addition to the firm’s foreign franchised brands and strengthen its position for further growth in the Philippine market.