You are here
Commonwealth Capital launches S$70m integrated food facility
A S$70 million state-of-the-art facility that integrates food logistics, production and services under one roof was officially opened on Wednesday by Commonwealth Capital, an investment holding company with a food and beverage (F&B) portfolio.
The company has local brands such as PastaMania, Swissbake and The Soup Spoon under its belt, with 151 cafes and restaurants in 12 countries and counting.
Spanning 300,000 square feet at 7 Buroh Lane, the new building will boost the capabilities of Commonwealth Capital's customers and its own in-house brands through cutting-edge technology and economies of scale.
This in turn will propel Commonwealth Capital's expansion aspirations in the region and beyond.
Its group managing director Andrew Kwan said that internationalisation was the main push for the investment.
Currently, "very little" of the group's revenues come from exports, he said. He aims to push it up to 50 per cent in the next two years.
As the manufacturing site is also fully halal-certified, the group is exploring the Middle East market as well, Mr Kwan said.
Deputy Prime Minister Tharman Shanmugaratnam, the guest of honour at the event, said that this development was an "important way forward" as small players are still able to retain their diversity and yet scale up at the same time.