BreadTalk Group to buy foodcourt rival
Listed Singapore food-and-beverage company BreadTalk Group is to buy foodcourt operator Food Junction Management (FJM).
A subsidiary of BreadTalk, Topwin Investment, has signed a sale and purchase agreement to pay S$80 million for FJM, which operates 12 foodcourts in Singapore and three in Malaysia. A fourth is on track to open next year at The Mall in Johor Bahru.
BreadTalk Group sees synergies between the FJM business and its own foodcourt operations – it owns Food Republic and Food Opera-branded sites in Singapore, Greater China, Thailand, Cambodia and Malaysia. The combined operation could share support services and rationalise supply arrangements.
FJM is owned by Singapore investment company Auric Pacific Group Limited.