Giving both companies the ability to move and operate in their respective markets with greater flexibility.
Last August 18, restaurant giant Jollibee Foods Corporation (JFC) announced that its wholly-owned Chinese restaurant brand Tim Ho Wan has signed definitive agreements with WDI, its long-standing North America and Japan joint venture partner to realign their partnership in both markets.
The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals, but is expected to be completed within the third quarter of 2026.
Under the said agreement, Tim Ho Wan will acquire WDI‘s thirty percent (30%) interest in the joint venture that operates the Tim Ho Wan platform across North America.
This moves the restaurant chain from being majority partner to sole owner and now having full ownership and control of the platform, with the ability to independently operate, develop, franchise, and appoint franchise partners across the region.
Tim Ho Wan, as per JFC, will pay WDI aggregate consideration of approximately US$5.05 million for the North America realignment—which is viewed as an important step in accelerating the brand’s growth in one of the conglomerate’s priority international growth markets.
Yeong Sheng Lee, Tim Ho Wan CEO stated, “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.“
He also emphasized that with full ownership of the NA business, they can now move faster, invest with greater flexibility and expand the brand with a focus on long-term value creation.
“This realignment allows us to sharpen our focus on markets where we see the greatest long-term opportunity, while enabling our valued partner WDI to do the same in Japan. We are pleased to have reached an outcome that strengthens both businesses and supports the continued growth of the brand,” the company official stated.
Tim Ho Wan is said to be looking to expand its business to 20 stores in the United States by 2028, which will position it in the Chinese cuisine category’s long term growth and akso remaining focused on serving Hong Kong dim sum.
Recently, Tim Ho Wan Irvine opened as the brand’s first company-operated US location and is said to have “established a repeatable operational blueprint for the market,” on top of opportunities for franchising and local development partnerships.
According to IBISWorld’s 2026 industry estimates, the US Chinese restaurant industry generates approximately US$29 billion in annual sales.
Furthermore, the transaction will also enable WDI to deepen its commitment to the brand in Japan and will allow both companies to accelerate expansion in markets where they hold the strongest strategic advantage.
Thus, WDI will acquire Tim Ho Wan’s 30% interest in the Japan joint venture that holds the unit franchise rights for Tim Ho Wan in Japan for the aggregate consideration of approximately JPY166.1 million (approximately US$1.0 million)
Following the transaction, WDI will own 100% of the franchise rights vehicle responsible for developing and overseeing the Tim Ho Wan brand in the Japanese market.
“As WDI‘s home market, Japan is where it brings deep local market knowledge, operating expertise, and an established restaurant portfolio,” noted JFC in a statement.
WDI currently operates four Tim Ho Wan stores in Japan, with three stores in Tokyo and one in Osaka, including the brand’s flagship Hibiya location.
Those are part of the company’s portfolio that also includes brands spanning casual dining, premium dining, and international restaurant concepts.
“Japan is our home market, and 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,” Ken Shimizu, President of WDI Corporation stated.
