CMCR

Singaporean group Spa Esprit opened Common Man Coffee Roasters and Tiong Bahru Bakery but its basically owned by Jollibee... In 2022, a private equity fund called Titan Dining LP acquired 80% of Food Collective- owners of CMCR and Tiong Bahru Bakery under the Spa Espirit group. However, Jollibee holds a 90% participating interest in Titan Dining, alongside their JV in with Spa Esprit group to bring CMCR and TBB to the Philippines with a 60% stake. As they now operate in Hong Kong since opening in 2024 at K11 Art Mall, Jolibees acquisitions keep gaining a lot more consumer traction in international waters. Comparing that to CBTL, also under Jollibee since 2019. Store count recovered after years of closures, but customer loyalty in markets like Singapore and manila have stayed flat since 2016. What will be next to CMCR and Tiong Bahru Bakery?