Insider Spotlight
Tim Ho Wan will acquire WDI’s 30 percent interest in their North America master franchise joint venture for about US$5.05 million, giving the Jollibee Group-owned brand full ownership and operational control of the platform.
Why it matters
Full control will allow Tim Ho Wan to independently operate, develop and franchise the brand across North America, a priority international growth market for the Jollibee Group. The company plans to quadruple its US business to 20 stores by 2028.
Upon completion, Tim Ho Wan’s North America platform will include five US stores, comprising three company-owned stores and two franchised locations. Tim Ho Wan will take over the New York and Hawaii stores and assume management of locations in Las Vegas and Texas.
The growth play
The US Chinese restaurant industry generates about $29 billion in annual sales, based on 2026 IBISWorld estimates cited in the company release. Tim Ho Wan sees room to expand as the dim sum segment remains relatively fragmented, with few brands operating at scale across multiple markets.
Tim Ho Wan CEO Yeong Sheng Lee said “North America is one of Tim Ho Wan's most important growth markets, and taking full ownership of the platform gives us greater flexibility to invest in, expand and franchise the brand as we pursue its next phase of growth.”
“With full ownership of our North America platform, we can move faster, invest with greater flexibility and expand the brand with a sharper focus on long-term value creation. This realignment allows us to sharpen our focus on markets where we see the greatest long-term opportunity, while enabling our valued partner WDI to do the same in Japan. We are pleased to have reached an outcome that strengthens both businesses and supports the continued growth of the brand,” the Tim Ho Wan CEO added.
Meanwhile in Japan
WDI will acquire Tim Ho Wan’s 30 percent stake in their Japan joint venture for approximately JPY166.1 million, or about US$1 million. The transaction will give WDI full ownership of the vehicle holding Tim Ho Wan’s unit franchise rights in Japan, where it currently operates four stores.
The coordinated transactions remain subject to customary closing conditions and regulatory approvals and are expected to be completed within the third quarter of 2026. — Princess Daisy C. Ominga | Ed: Corrie S. Narisma
