KUALA LUMPUR: Berjaya Food Bhd has inked a joint venture agreement with Paris Baguette Singapore plc to open the South Korean bakery across Malaysia starting this year.
Under the terms of the agreement, Berjaya Food will have a 50 per cent ownership and will be the principal operator of the Paris Baguette stores locally.
The bakery chain will be established in cities across the country, beginning with its first store in Klang Valley towards the end of this year.
Berjaya Food group chief executive officer Datuk Sydney Quays said the group planned to open at least five stores a year.
Quays said Berjaya Food was committed to become a more holistic food and beverage group.
"The edition of a bakery chain in our portfolio represents a significant milestone in our efforts to exceed the expectations of the Malaysian consumers. We are looking to open at least five bakeries a year," he said after inking the joint venture agreement here today.
Paris Baguette is a French-inspired bakery founded in South Korea in 1988.
It is a premium bakery brand and also the No. 1 bakery chain in South Korea with over 3,400 stores, and more than 440 locations across the United States, China, France, Vietnam, Indonesia, Cambodia and Singapore.