Are you a croissant and coffee lover? Jollibee Foods Corporation (JFC) is introducing two popular Asian food brands, Tiong Bahru Bakery and Common Man Coffee Roasters, to the Philippine market.
In a disclosure, JFC revealed plans to establish a joint venture with Food Collective Pte. Ltd. (FCPL), investing up to P250 million, with JFC holding a 60% stake and FCPL having 40%.Tiong Bahru Bakery boasts a reputation as the “Home of the Hand-made Croissants,” renowned for its exceptional baked goods and coffee.
On the other hand, Common Man Coffee Roasters operates all-day dining establishments in Singapore and Malaysia, specializing in coffee roasting, coffee products, and operating a Coffee Barista Academy.
JFC is set to open at least one Common Man Coffee Roasters outlet in the Philippines this year.
Expressing enthusiasm, JFC CEO Ernesto Tanmantiong stated, “We are excited to enter this joint venture with FCPL to own and operate Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines.”
These brands will be a valuable addition to JFC’s foreign franchised lineup, enhancing its position for further growth in the Philippine market, the CEO added.
JFC’s portfolio also includes other foreign franchised brands like Burger King, Panda Express, and Yoshinoya, contributing 3% to JFC’s system-wide sales.
FCPL, a subsidiary of Tital Lifestyle Holdings Pte. Ltd., is primarily owned by JFC with a 90% interest in Titan Lifestyle’s parent company, Titan Dining LP.
As one of Asia’s prominent food companies, JFC operates a global network of 6,616 stores as of June 2023.
Among its notable brands, Jollibee leads with 1,609 stores, followed by Coffee Bean and Tea Leaf with 1,117, Chowking with 613, Mang Inasal with 569, and Highlands Coffee with 673 outlets.
