Phoon Huat buys majority stake in French foods retailer

Singapore

BAKING supplies retailer Phoon Huat has acquired a majority stake in Le Petit Depot, a Singapore-based online retailer that specialises in French food products.

Phoon Huat now holds 91.5 per cent interest - made up of ordinary and preference shares - in Le Petit Depot, according to corporate records. The remaining shares are held by Le Petit Depot's founders, Frenchmen Yannick Guédon and Frédéric Douvillé, and a holding firm, Oper8.