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Kimly, which manages a chain of food service businesses, is selling its confectionery business, Rive Gauche Pâtisserie to Muginoho Global for S$2.8 million (US$2 million).
Rive Gauche Patisserie operates western pastry and confectionery specialty shops, including through online platforms. Muginoho Global is engaged in the manufacturing and sale of food products and is wholly owned by Japan-based Muginoho Holdings.
The disposal will allow Kimly to streamline its business operations and better direct resources to its core business of operating coffeeshops, including the opening of more outlets and diversifying its product offerings.
