By Mars Woo
The investment will give JFC a substantial ownership in Tim Ho Wan Pte Ltd, the Asia Pacific master franchise holder of the Tim Ho Wan brand.
Manila-based Edukasyon has raised an undisclosed amount in a funding round backed by KSR Ventures and French Partners, ahead of its planned Series A in the fourth quarter of this year.
Grab now controls more than 90% of the ride-hailing market in the Philippines but struggles to keep up with demand.
The convenience store business represents less than 10 per cent of Puregold’s portfolio.
The Japan deal follows a string of international deals worth over $3.5 billion that Revolution Precrafted has sealed so far this year.
If successful, this would be the biggest outbound deal from the Philippines in almost two years.
The Philippines will allow 10 blockchain and virtual currency companies to operate in an economic zone to take advantage of tax perks while generating employment.
Sprout Solutions said it will use the funds to accelerate expansion in the Philippines.
Revolution Precrafted’s initial franchise deal with NOVO Development involves the supply of at least 1,000 units in the region that would create sales revenues of as much as $300 million.
AEV said the bulk of this year’s capital expenditure will be used to finance projects in power and food.