Jollibee takes full control of Tim Ho Wan’s US expansion, targets 20 stores by 2028

Filipino-owned dim sum brand buys out partner’s stake in North America as it eyes a fourfold increase in US stores.

Jollibee Foods Corp. is taking full control of Tim Ho Wan’s North American business, giving the Filipino-owned dim sum brand more control as it targets a much bigger US footprint.

Tim Ho Wan will acquire the 30% stake held by Tokyo-based restaurant operator WDI in their North American joint venture for about $5.05 million, or roughly ₱311 million. Once the deal closes, the brand will have full control over operations, expansion and franchising across the region.

The business currently has five US stores, including locations in New York, Hawaii, Las Vegas, Texas and Irvine. Tim Ho Wan plans to quadruple that number to 20 stores by 2028, with franchising and local development partners expected to play a bigger role in the expansion.

The US Chinese restaurant industry generates about $29 billion, or roughly ₱1.8 trillion, in annual sales, according to IBISWorld estimates cited by the company. The dim sum segment also remains fragmented, with relatively few brands operating across multiple markets at scale.

Meanwhile, WDI will take full ownership of Tim Ho Wan’s Japan franchise rights after buying Jollibee’s 30% stake for about ¥166.1 million, or roughly ₱64 million. WDI currently operates four Tim Ho Wan stores in Japan.

The deal gives Jollibee a bigger stake in one of Tim Ho Wan’s key international growth markets, while leaving WDI to lead the brand’s development in its home market.

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