StanChart PE takes 'significant' stake in Phoon Huat

Singapore

STANDARD Chartered Private Equity (SCPE) has invested in another Singapore food and beverage player, a year after it ploughed US$52 million into Crystal Jade Group Holdings.

It is now taking a "significant stake" in branded food ingredients wholesaler and retailer Phoon Huat Pte Ltd, both companies said in a press release on Monday.