07 July 2014
Singapore, 7 July 2014 – Commonwealth Capital Pte Ltd (“Commonwealth”), a privately held and 100% Singaporean-owned investment holding company, is pleased to announce the building of a brand new $70 million headquarter to support the Group’s rapid growth in its food vertical including F&B retail concepts, warehouse cum logistics services and manufacturing businesses.
The building project will be undertaken by its wholly owned subsidiary, Commonwealth Food Services Pte Ltd, a specialist in food logistics and supply chain management. Commonwealth also holds investments in PastaMania®, Swiss Bake®, Swiss Treats®, NYC Bagel Factory®, Barramundi Asia and Zac® Meat & Poultry under its food portfolio.
Earmarked to attain Green Mark Gold, the facility will have close to 300,000 square feet of gross floor area spread over six floors. Apart from integrated spaces for food production, cold storage, chiller rooms, ambient warehouse, R&D laboratory, training centers and offices, the advanced facility will also incorporate a labor-saving and state-of-the-art automatic storage and retrieval system within its minus 28 degrees celsius cold warehouse. Completion is expected in 4Q 2015.
The full-suite, central production and multi-storage facility will be producing proprietary sauces, soups, pastas, meats, desserts, breads, cakes and confectionary to support the accelerated growth plans of the Group’s B2B and B2C customers.
“Today, our products are sold in over 450 retail points in the Singapore market alone. We are excited about the new strategic possibilities and added operational capabilities that this facility will bring to the Group and our customers. With the various capabilities integrated under one roof to realize operational efficiencies and synergies, coupled with significant investments into automation and technology, we are positioned for quality growth well into the future,” said Mr Andrew Kwan, Commonwealth’s Group Managing Director.
“Ultimately, we are fully committed to continue delivering innovative, delicious and healthy food to the consumers of today and tomorrow, in Singapore and the regions beyond” he added.
ABOUT COMMONWEALTH CAPITAL GROUP
Established in 2010, Commonwealth’s group revenues achieved a CAGR of 53.9% over the last 2 years with FY14 revenues projected to exceed $100 million. It’s key management team have won multiple business awards and possesses deep knowledge and extensive experience in building brands, operating franchises and providing supply chain management services across regional, pan Asian and Middle-Eastern markets.
For enquiries, please contact: Cheryl Wee Commonwealth Capital Pte Ltd [email protected] Direct Line +65 6705 5307 | Main Line +65 6705 5300