NTUC Enterprise Co-operative Limited (NTUC Enterprise) announced on 21 September 2018 that it is set to acquire local food court, coffeeshop and hawker-centre operator Kopitiam Investment Pte Ltd and its subsidiaries (Kopitiam).
This is set to be completed by the end of this year, subject to approvals and conditions.
According to NTUC Enterprise, the move is part of its social mission to ensure that cooked food remains affordable and accessible.
“The acquisition of Kopitiam complements NTUC Enterprise’s existing cooked food operations by NTUC Foodfare. Kopitiam and NTUC Foodfare share the common objective of making quality cooked food affordable and accessible to all.
“We will leverage our combined strengths to contribute to improving the vibrancy and resiliency of this daily essential sector in Singapore, with the ultimate goal of creating better experiences for our customers, and opportunities for our employees and other stakeholders,” said NTUC Enterprise Executive Director Kee Teck Koon.
One way both entities will work together is by leveraging each others’ capabilities, which includes technology.
Commenting on the move, Kopitiam Investment Chairman Lim Bee Huat said: “We are confident that NTUC Enterprise will bring Kopitiam to new heights in serving our community. The Kopitiam management team, led by Mr Alden Tan, is committed to continue growing Kopitiam.”
NTUC Foodfare, one of eight social enterprises under NTUC Enterprise, currently provides affordable, quality and healthier option meals for customers.
NTUC Enterprise also said that Foodfare is committed to preserving Singapore’s hawker culture and aims to protect hawkers’ livelihoods by offering opportunities for skills development and placements.
Kopitiam currently operates 56 food courts, 21 coffeeshops, three hawker centres and two central kitchens. It employs more than 1,000 workers and manages more than 1,000 food stalls.
NTUC Foodfare and Kopitiam will continue to operate separately upon completion of the acquisition exercise, with their current respective management teams and employees staying put.
Both entities also assured customers, stallholders and other stakeholders that business will continue as usual.
