BURLESON: SPC Group, a prominent South Korean food and beverage company, announced that it is in the final stages of negotiations to establish a $160 million bakery plant in Burleson, Texas. The initiative is part of the company's strategic plan to expand its footprint in the North and Latin American markets.
According to Yonhap News Agency, SPC Group is currently refining the terms of its investment with the City of Burleson, Texas, which is expected to provide $10 million in subsidies for the development of the facility. The company anticipates that the agreement, including the construction timeline, will be finalized later this month. The proposed U.S. bakery plant is intended to fulfill domestic demand and facilitate exports to Canada and Latin America.
SPC Group's expansion efforts include an existing bakery plant in Tianjin, China, and another nearing completion in Johor Bahru, Malaysia. Since 2004, the company has expanded its Paris Baguette brand into 14 countries and currently operates 600 international outlets, with 200 located in the United States and Canada. To accommodate the growing demand for its bakery products, SPC aims to increase its Paris Baguette presence in North America to 1,000 locations by 2030.