Singha Corp banks on Fine Food Capital
SINGHA CORP has set its sights on becoming a leading global food company via its wholly owned subsidiary Fine Food Capital, which this year set up its first overseas operation in the United Kingdom.
The new company, Fine Food Capital UK, was established at the beginning of the year with Bt50 million in registered capital.
Theera Vongpatanasin, managing director of Fine Food Capital, said yesterday that the new unit would be in charge of expanding food business in Britain, with activity divided into ready-to-eat foods, ready-to-cook foods, and the Pacata restaurant chain.
He said that the first branch was opened in Bangkok’s Khao San Road in December 2012, the first overseas Pacata casual-dining restaurant was opened in London’s Covent Garden district in March this year.
“We plan to open about five Pacata restaurants in the UK next year with an investment of about Bt20 million each,” said Theera, adding that the opening of restaurant outlets would be undertaken via a mix of franchising and the company’s own investment.
Fine Food Capital expects to open between five and 10 Pacata restaurants abroad every year, and to pass the 50-outlet mark overseas in the next five years. It sees the major markets for the brand as being Britain, the United States and Scandinavian countries, he said.
The company will also focus on the expansion of its packaged-foods business, comprising That’s Asia and Star Chefs ready-to-eat foods, overseas and in the Thai market respectively.
“We will also export our ready-to-eat and ready-to-cook products to many potential markets, particularly India, the US and Scandinavia. We had a soft launch of our Star Chefs products last month,” he said.
With product sales only having started last month, Fine Food Capital expects to achieve total sales of more than Bt100 million by the end of this year, and up to Bt500 million next year.
