ST Group Food Industries to open 10 new F&B outlets

ST Group Food Industries Holdings announced on Wednesday that it will open 10 new food and beverage (F&B) outlets by September, in a push to expand its operations across its key geographical markets of Australia, New Zealand the United Kingdom.

The Australian-based F&B group has a diversified portfolio of international brands: PappaRich, Ne Ne Chicken, Gong Cha, Hokkaido Baked Cheese Tart, IPPUDO, IDarts and Go Noodle House. It also owns two brand concepts PAFU and KURIMU. 

Said executive chairman and chief executive officer of the company Saw Tatt Ghee: "The majority of outlets in our network have recommenced business operations as lockdown measures in our key geographical markets are being eased gradually.

"Amid the adversity, we have identified several opportunities to expand our F&B operations. For these new outlets, we have also been able to secure favourable lease terms with the various landlords by leveraging the scale of our business operations." 

Of the 10 new outlets, five will be owned and operated by the group; the other five will be owned and operated by sub-franchisees or sub-licensees.

The group has confirmed the opening of three outlets in Australia - one outlet each under the KURIMU, PappaRich and Go Noodle House brands. The Go Noodle House outlet will be owned and operated by the group as a sub-franchisee, as part of its portfolio diversification strategy.

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Meanwhile in New Zealand, the opening of four Gong Cha outlets and one IPPUDO outlet has been planned following the lifting of the country's lockdown on June 8. 

Another two Gong Cha outlets will be launched in the UK following the success of the first one there last year, said the group. 

Meanwhile, as part of the group's business review and cost rationalisation strategy, it will close down a Hokkaido Baked Cheese Tart outlet in Australia and two NeNe Chicken outlets in Malaysia.

As at Wednesday this week, the group had a network of 118 outlets comprising 46 group-owned outlets and 72 outlets owned by its sub-franchisees and sub-licensees. Of the outlets in its network, 109 outlets have re-opened, representing approximately 92.4 per cent  of the group's total network.

Shares of ST Food Group closed flat at 16.5 Singapore cents on Wednesday.