Manila, Philippines – The Jollibee Foods Corporation (JFC) has announced that it is bringing Tiong Bahru Bakery and Common Man Coffee Roasters, two Singaporean food franchise establishments, to the Philippines via a joint venture with Food Collective, Pte. Ltd. (FCPL).
Under the joint venture, JFC will own 60% of the business while FCPL will own the remaining 40%. Both companies have committed to invest up to PHP250.0m to the join venture, which shall have its own resources and personnel with JFC taking the lead in the management and operation of the business.
The joint venture will be the franchisee of both brands in the Philippines.
Tiong Bahru Bakery is famous for being the “Home of the Hand-made Croissants” and for its baked goods and Coffee, with a commitment to producing high-quality food and coffee and celebrating traditional techniques and its local neighbourhoods.
Meanwhile, Common Man Coffee Roasters operates all-day dining restaurants in Singapore and Malaysia, with an aim to be a champion for speciality coffee and the best all-day dining concept in Asia.
Ernesto Tanmantiong, chief executive officer at Jollibee Foods Corporation, said, “We are excited to enter this joint venture with FCPL to own and operate the Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines. These brands will be a strong addition to JFC’s foreign franchised brands and will allow JFC to capture an even greater opportunity and strengthen JFC’s position for further growth in the Philippine market.”
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% 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 5 Common Man Coffee Roasters, across Singapore and Malaysia.
