When the need for carbs and coffee arises while in the Lion City, who do you call? We're guessing your list includes neighborhood bakery Tiong Bahru Bakery and specialty coffee shopĀ Common Man Coffee Roasters. Guess what:Ā it won't be long before the two make their way to the Philippines.
In a filing with the Philippine Stock Exchange, Jollibee Foods Corporation said it is establishing a joint venture company with Food Collective, Pte. Ltd., one of the largest Asian food service companies, that will own and operate Tiong Bahru Bakery and Common Man Coffee Roasters in the country.Ā
Jollibee Foods Corporation (JFC) said it would own 60 percent of the business while Food Collective, Pte. Ltd. (FCPL) will own the remaining 40 percent. The joint venture will be the franchisee of both brands in the Philippines.
Tiong Bahru Bakeryānot to be mistaken for the Hainanese chicken shop of the same name in Makatiāhas made a name for itself as the "Home of the Hand-made Croissants." Long lines have become a fixture in its original location at the Tiong Bahru neighborhood of Singapore.Ā There are currently 16 Tiong Bahru Bakeries and five Common Man Coffee Roasters across Singapore and Malaysia.
Common Man Coffee Roasters, meanwhile, operates all-day dining restaurants in both Singapore and Malaysia. It also does coffee roasting, sale of coffee products, and operates a Coffee Barista Academy.
Common Man Coffee Roasters will start its operation in the Philippines in 2023.
"We are excited to enter this joint venture with FCPL to own and operate the Tiong Bahru Bakery and Common Man Coffee Roasters in the Philippines," said JFC CEO Ernesto Tanmantiong. "These brands will be a strong addition to JFC's foreign franchised brands and will allow JFC to capture an even greater opportunity and strengthen JFC's position for further growth in the Philippine market."Ā
JFC currently operates three foreign franchised brands in the Philippines: Burger King (127 stores), Panda Express (18 stores), and Yoshinoya (seven stores). These brands contribute around three percent to JFC's consolidated systemwide sales.
this strange new world.