Singapore’s leading food and catering solutions company, Neo Group has acquired local bakery chain PrimaDeli for an undisclosed sum.
PrimaDeli will be fully managed by Neo Group Bakery, a new entity within Neo Group formed to handle the group’s bakery-related businesses. PrimaDeli will maintain its current branding across its outlets, while Neo Group Bakery will retain all existing employees.
Neo Group Bakery announced that it will seek more strategic partners and franchisees to expand the PrimaDeli brand, while continuing to support its existing franchisee partnerships.
PrimaDeli is established in 1992 as Singapore’s first bakery franchise and the longest-standing food franchise in the country, with over 45 outlets. The brand was previously operated by Prima Food, the food manufacturing branch of flour supplier Prima Ltd.
Neo Group boasts a diverse portfolio of catering brands, including Neo Garden, How’s Catering, and Chilli Manis. The group also operates quick-service and restaurant dining concepts, with over 20 retail outlets throughout Singapore.
Prima Food exit from PrimaDeli bakery chain business signifies its plan to prioritise on growing its upstream flour-milling business to more effectively serve the local flour-based industry.
In a joint-statement, Neo Group and PrimaDeli described the move as a strategic step that ushers in “a new era of growth and innovation for Singapore’s first home-grown bakery franchise.” This transition offers a unique opportunity to blend PrimaDeli’s established brand equity with Neo Group Bakery’s innovative approach and operational excellence, delivering an even more enriching experience for its customers.
