BreadTalk, Song Fa take pork rib soup to Taiwan
Singapore
MAINBOARD-LISTED food and beverage group BreadTalk Group is teaming up with Song Fa Holdings to expand into Taiwan.
Its wholly owned subsidiary, Food Republic Taiwan, has entered into a franchise agreement with Song Fa to operate the Song Fa Bak Kut Teh brand of restaurants in Taiwan.
Under this agreement, Food Republic Taiwan will own the franchise rights for developing and operating the Song Fa brand in Taiwan for the next 10 years.
Two Song Fa outlets are slated to open in Taipei, in the second half of the year.
"Our immediate focus will be to deliver the award-winning Song Fa dining experience to our consumers in Taipei," a BreadTalk spokesman told The Business Times. "Once we have established our presence in Taipei, we will explore other cosmopolitan cities in Taiwan," he added.
At a signing ceremony between Song Fa and BreadTalk on Thursday , BreadTalk's chief executive officer Henry Chu said the group is in the process of signing the leases for the two locations.
"Dr George Quek, our founder of BreadTalk Group, started his F&B journey in Taiwan. Through his intimate knowledge of and networks within the Taiwanese market, we were able to bring the Song Fa brand successfully into Taiwan," said Mr Chu.
With the addition of the two outlets in Taiwan, BreadTalk hopes to achieve its target of 18 Song Fa restaurants across Thailand, China, and Taiwan by the end of the year. This will be Song Fa's first foray into the Taiwan market.
Currently, there are five Song Fa outlets in Shanghai, and one each in Beijing, Guangzhou and Bangkok.
All eight outlets are operated under BTG-Song Fa Venture, a joint venture between BreadTalk and Song Fa.
"The introduction of Song Fa Bak Kut Teh in Taiwan marks another exciting milestone as we celebrate our 50th anniversary," managing director of Song Fa, Yeo Hart Pong, said. "With our continued partnership with BreadTalk Group, I am confident Song Fa will reach a greater heights," he added.
The Singapore-based restaurant chain, which specialises in bak kut teh, has made the Michelin Bib Gourmand list for three consecutive years since it was first awarded the accolade in 2016.
BreadTalk shares closed on Thursday at 80 Singapore cents, down one Singapore cent.
