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Jollibee Foods Corporation (JFC) is boldly stepping into the café industry by partnering with Singapore's Food Collective Pte. Ltd. (FCPL). This collaboration aims to introduce fan-favorites Tiong Bahru Bakery and Common Man Coffee Roasters to the Philippine market. JFC will lead the venture, promising significant expansion opportunities and diversifying its portfolio in the region.
With 60% ownership by JFC and 40% by FCPL, the joint venture will be spearheaded by JFC regarding management and operations. Both companies are investing up to PHP250 million (about US$4.5 million) in this exciting venture.
Tiong Bahru Bakery, renowned for its hand-made croissants, has a strong following in Singapore and Malaysia. Meanwhile, Common Man Coffee Roasters is known for its all-day dining restaurants with specialty coffee. With five outlets in Singapore and one in Malaysia, Common Man Coffee Roasters is set to expand its presence in the Philippines under the joint venture. However, regulatory approval is still pending.
JFC sees the addition of these brands as a significant opportunity for growth in the Philippine market. According to Ernesto Tanmantiong, CEO at JFC, Tiong Bahru Bakery and Common Man Coffee Roasters will complement JFC's existing franchised brands and strengthen its position in the country. The company aims to open at least one Common Man Coffee Roasters outlet in the Philippines this year.
As of June, JFC operated 6,617 stores worldwide, including its flagship fast-food chain Jollibee and coffee chains Highlands Coffee and The Coffee Bean & Tea Leaf. The transfer of Vietnamese noodles chain Pho24 assets to East-West Restaurant Concepts by JFC's subsidiary SuperFoods reflects the company's focus on building and growing its new businesses, such as Tim Ho Wan, Yoshinoya, and Milksha.
Food Collective Pte. Ltd. (FCPL) is a majority-owned subsidiary of Titan Lifestyle Holdings Pte. Ltd., which is part of Titan Dining LP—a company where JFC holds a 90% participating interest. Common Man Coffee Roasters and Tiong Bahru Bakery are FCPL's primary brands.
Photo: Joshua De Guia/Unsplash
