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Singapore Cupcake Makers’ Supply Shop Said to Start Sale Process

Phoon Huat & Co., the Singapore company that’s been selling baking ingredients such as pie fillings and confectioners’ sugar since 1947, is seeking a buyer, people with knowledge of the matter said.

The company has sent out preliminary information to potential bidders and asked for first-round bids next month, according to the people. The Wong family that controls Phoon Huat is seeking about S$250 million ($185 million) from the sale, which includes the company’s real estate, one of the people said, asking not to be identified as the information is private.