2 days Ago By Korea Bizwire
This file photo provided by SPC shows people lining up to enter the company’s 600th overseas outlet on Bloor Street in Toronto’s high-end shopping district. (Image courtesy of Yonhap) SEOUL, Jan. 2 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Thursday it is in the final stage of talks to build a US$160 million bakery plant in Texas under plans to expand its business in North and Latin American markets.
SPC is fine-tuning with the City of Burleson in Texas over its investment plans and the city government’s subsidies worth $10 million for the facility, the company said in a press release. They are expected to finalize the deal, including the timeline for construction, later this month, it added. If built, the U.
S. SPC plant will serve as a bakery production facility not only for demand in the U.S.
but also for exports to Canada and Latin America, the company said. SPC currently operates a bakery plant in Tianjin, China, with the construction of its second overseas plant set to be completed soon in Johor Bahru, Malaysia. SPC has advanced into 14 countries with the Paris Baguette brand since 2004.
Of its 600 overseas Paris Baguette outlets, it has 200 stores in the U.S. and Canada.
To meet rising local demand for its bakery products, SPC aims to increase the number of Paris Baguette outlets in North America to 1,000 by 2030, the release said. (Yonhap).
