ST Group sells Gong Cha brand in the United Kingdom amid market shift
SINGAPORE: ST Group Food Industries Holdings Ltd. has disposed of three indirect subsidiaries operating under the Gong Cha brand in the United Kingdom, citing ongoing losses and a strategic shift toward franchising and supply chain operations. The disposal, completed through ST Group’s indirect subsidiary GCTea Ltd., transfers ownership of GCTea Outlets Ltd., GCTea Outlets 2…