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BreadTalk partners Song Fa to operate bak kut teh brand in China, Thailand
BREADTALK Group said on Monday that it has partnered Song Fa Holdings to incorporate BTG-Song Fa Venture, which will operate the popular Song Fa Bak Kut Teh brand of restaurants in China and Thailand.
The joint venture (JV) agreement is made through BreadTalk's wholly owned subsidiary, Together Inc.
BTG-Song Fa will be 90 per cent and 10 per cent owned by Together Inc and Song Fa respectively. Under the agreement, BTG-Song Fa will enter into a master franchise to develop and operate the Teochew Bak Kut Teh brand in Thailand, as well as four major cities in China, comprising Beijing, Shanghai, Shenzhen and Guangzhou.
The first Song Fa Bak Kut Teh restaurant under this JV and franchise agreement is expected to open in Shanghai during the fourth quarter of 2017.