It will develop and operate Wu Pao Chun bakeries in China, Hong Kong, and Singapore.
BreadTalk Group, through its indirect-wholly owned subsidiary Shanghai Star Food F&B Management, signed a joint venture agreement with Wu Pao Chun Food (WPC) to operate its brand of bakeries.
The joint venture company will develop and operate WPC bakeries in Beijing, Shanghai, Shenzhen, and Guangzhou. The first bakery under the joint venture agreement will open in Shanghai this year wherein BreadTalk Group will hold 80% shares and 20% shares for WPC. For the remaining three China cities, WPC has an option to participate in shareholding of up to 40%.
The joint venture agreements for Singapore and Hong Kong are underway. BreadTalk Group will hold 80% shares of the bakery in Singapore and 20% for WPC.
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