BreadTalk said on Monday that it entered an 80:20 joint venture with Taiwan-based Wu Pao Chun Food, or WPC, to operate Wu Pao Chun brand bakeries in Singapore and Hong Kong.
Together Inc., a wholly owned BreadTalk subsidiary, will take an 80 percent stake in the joint venture, which is expected to open its first Wu Pao Chun bakery in Capitol Piazza in 2019, it said in a filing to SGX before the market open on Monday.
That followed BreadTalk’s indirect wholly owned subsidiary, Shanghai Star Food F&B Management, entering a joint venture in March with WPC to operate Wu Pao Chun bakeries in Beijing, Shanghai, Shenzhen and Guangzhou, it said. The Shanghai store is expected to open in November of this year, it said.
Wu Pao Chun is known for its award-winning bread “Taiwan longan with red wine bread” and “Taiwan litchi rose champion bread,” it said, noting that Mr. Wu Pao Chun won the 2010 Masters de la Boulangerie and World’s Best Baker in the International Union of Bakers and Confectioners (UIBC) International Competition of Young Bakers.
Currently, WPC has three stores in Taiwan in Taipei, Taichung and Kaohsiung, it said.