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Manila Bulletin devider Business devider The Stock Market devider Jollibee buys out partner in US Tim Ho Wan, hands over Japan stores

Jollibee buys out partner in US Tim Ho Wan, hands over Japan stores

Published Aug 18, 2026 05:17 pm
Jollibee Foods Corp. and long-standing partner WDI Corp. agreed to split the franchise rights for the Tim Ho Wan dim sum chain, giving the Filipino fast-food giant complete ownership of the brand’s North American platform while handing full control of Japanese operations to WDI.
Under the definitive agreements, Jollibee subsidiary Tim Ho Wan will acquire WDI’s 30 percent stake in their North American joint venture for $5.05 million (₱288.9 million). In a coordinated transaction, Tokyo-listed restaurant operator WDI will purchase Tim Ho Wan’s 30 percent interest in the Japanese joint venture for 166.1 million yen (₱57.2 million ).
The realignment allows each company to focus capital and resources on its primary growth geographic markets, Jollibee said in a regulatory filing to the Philippine Stock Exchange. The transaction is slated to close within the third quarter of 2026.
Taking full operational control of North America grants Tim Ho Wan complete flexibility to operate, develop, and franchise the brand across the region.
The business currently holds five US locations, consisting of three company-owned restaurants and two franchised outlets. Under the new arrangement, Tim Ho Wan takes over the New York and Hawaii locations and assumes management of the Las Vegas and Texas sites.
The company plans to expand its US presence to 20 stores by 2028, leaning on a mix of local development partnerships and franchising. The recent opening of a company-operated store in Irvine, California, served as the operational blueprint for future North American expansion.
“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,” Yeong Sheng Lee, Tim Ho Wan chief executive officer, said.
For WDI, the buyout gives the operator complete control of four existing Tim Ho Wan locations in Japan, including three sites in Tokyo and one in Osaka. Tim Ho Wan will continue to serve as the global franchisor, while WDI remains an operating franchisee in its home market.
“This realignment allows WDI to take full ownership of Tim Ho Wan's operations here, so we can fully apply our operating expertise and capabilities to grow the brand for Japanese diners,” WDI President Ken Shimizu said. (James A. Loyola)

Related Tags

Jollibee Foods Corporation Tim Ho Wan Yeong Sheng Lee WDI Corporation Ken Shimizu
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