Investment holding company Pan Malaysia has entered into a partnership with Singaporean artisan baker and food store Baker & Cook.

The 50-50 joint venture will serve to diversify Pan Malaysia’s business to include F&B retail outlets, trading as Baker & Cook and Plank Sourdough Pizza. Pan Malaysia’s investment is being made through its wholly owned unit Megafort.

Under the agreement, Baker & Cook will manage day-to-day operations while Megafort handles concession and sub-franchisee agreements.

The stock exchange filing announcing the joint venture read: “The group (Pan Malaysia) intends to diversify its business profile and income stream, and it believes that the JV is expected to contribute positively to the earnings of the group in the future.”