Tim Ho Wan targets 4-fold US growth

Jollibee Foods Corp.’s Tim Ho Wan is targeting a fourfold expansion of its United States footprint to 20 stores by 2028 as it takes full control of its North American business to accelerate growth in one of the group’s priority overseas markets.

Tim Ho Wan acquired WDI Corp.’s 30-percent stake in their North American joint venture for about $5.05 million, giving the Jollibee-owned brand full ownership and operational control of the platform.

The deal allows Tim Ho Wan to independently operate, develop, and franchise the brand across North America, giving it greater flexibility to enter new markets and bring in franchise partners.

“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. With full ownership of our North America platform, we can move faster, invest with greater flexibility, and expand the brand with a sharper focus on long-term value creation,” Tim Ho Wan CEO Yeong Sheng Lee said in a regulatory filing on Thursday.

“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,” he added.

Tim Ho Wan’s North American platform is planned to have five US stores, comprising three company-owned outlets and two franchised locations.

The brand will take over the New York and Hawaii stores and assume management of locations in Las Vegas and Texas.

Tim Ho Wan expects to grow this footprint to 20 US stores by 2028, with much of the expansion expected to come through franchising and local development partnerships.

Its recently opened Irvine restaurant, the brand’s first company-operated US location, will serve as an operating blueprint for further expansion.

Tim Ho Wan is betting on a sizable market for Chinese dining in the US. Citing IBISWorld’s 2026 estimates, the company said the US Chinese restaurant industry generates about $29 billion in annual sales, while the dim sum segment remains fragmented with few brands operating at scale across multiple markets.

Alongside the North American deal, WDI also wants to acquire Tim Ho Wan’s 30-percent interest in their Japan joint venture for about 166.1 million yen, or roughly $1 million.

The transaction will give WDI full ownership of the vehicle holding Tim Ho Wan’s franchise rights in Japan, where the Japanese restaurant operator currently runs four Tim Ho Wan stores—three in Tokyo and one in Osaka.

“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.

We're proud of what we've built together with the Tim Ho Wan and Jollibee Group teams, and equally pleased that our partnership continues, with THW remaining the franchisor, WDI looks forward to continuing on as a valued franchise partner,” WDI Corp. President Ken Shimizu said.