Fast food giant Jollibee, perhaps best known for its fried chicken, will be introducing Singapore food brands Tiong Bahru Bakery and Common Man Coffee Roasters to the Philippines.
This is part of a joint venture between Jollibee Foods Corporation (JFC), the multinational company which owns the fried chicken chain, and Singapore-based Food Collective Pte. Ltd. (FCPL), which owns both the Tiong Bahru Bakery and Common Man Coffee Roasters brands.
Common Man Coffee Roasters to open in Philippines this year
The joint venture firm will franchise both of the brands and operate their stores in the Philippines, a press release by the Philippines-based fast-food giant revealed on Aug 4.
JFC will own 60 percent of the business while FCPL will hold the remaining 40 percent.
Both companies are looking to invest up to 250 million Philippine pesos (S$6 million) in the venture, with Jollibee Foods to anchor the management and operations of the business, reported The Philippine Star.
Jollibee also said that Common Man Coffee Roasters will start operations in the Philippines this year, according to The Manila Times.
No schedule has been provided for when Tiong Bahru Bakery will open its first store in the country.
Tiong Bahru Bakery, an artisanal French bakery known for its signature croissants, has 16 outlets in Singapore.
Specialty coffee chain Common Man Coffee Roasters, which doubles as a coffee wholesaler and runs its own barista academy, also has five outlets locally.
Also operates Burger King and Yoshinoya in the Philippines
In a speech, Jollibee Foods CEO Ernesto Tanmantiong said that the Singapore brands would be a strong addition to the foreign franchised brands that are already being operated by Jollibee.
The fast food conglomerate, which oversees a total of 6,617 stores worldwide, also operates three other foreign brands in the Philippines — Burger King (127 stores), Panda Express (18 stores) and Yoshinoya (seven stores).
In June, The Business Times also reported that Jollibee had invested in a number of Singapore-based lifestyle brands through private equity fund Titan Dining, in which JFC has a 90 percent participating interest.
The fast food giant also operates seven Jollibee outlets in Singapore.
Top image from Tiong Bahru Bakery / Common Man Coffee Roasters on Facebook.