StanChart PE Buys Singapore Baking Supply Shop Phoon Huat

  • Bank’s PE arm buys family-owned maker of ‘Red Man’ pie filling
  • Deal follows Metro purchase of distributor Classic Fine Foods

Standard Chartered Plc’s private-equity arm has invested in Phoon Huat & Co., the Singapore company that’s been selling baking ingredients such as pie fillings and confectioners’ sugar since 1947.

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