ST Group Food Industries has secured exclusive rights from Hyein Foods to franchise the NeNe Chicken brand in New Zealand, the Australia-based food and beverage company said in a filing to SGX after the market close Thursday.
The master franchise agreement has an initial term of 10 years, with an option to renew for another 10 years, the filing said.
Saw Tatt Ghee, executive chairman and CEO of ST Group Food, said securing the deal followed the company’s success developing the NeNe Chicken brand in Australia and Malaysia.
“The master franchise agreement is part of our strategy to expand our business in New Zealand where we already have businesses under the PappaRich, Gong Cha and Hokkaido Baked Cheese Tart brands,” Saw said in the statement. “Leveraging on our knowledge of the market as
well as our established business relationships, we are confident in our ability to make NeNe Chicken a success in New Zealand.”
ST Group Food has 26 outlets under the NeNe Chicken brand in Australia and Malaysia, comprising seven company-owned outlets and 19 owned by sub-franchisees and sub-licensees, the filing said.
It also has 15 outlets in New Zealand under the PappaRich, Gong Cha and Hokkaido Baked Cheese Tart brands, comprising nine company-owned outlets and six owned by sub-franchises, ST Group Food said.
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