The strategic acquisition aims to aggressively push Singaporean pastry brands further into the broader Asian and international retail market
Singapore, 2 November 2026 – International Foodgnostics Corporation Pte. Ltd. (“IFC”) announced that frozen food manufacturing giant Anjoy Foods Group has officially agreed to acquire a 60.0005% equity stake in the Singapore-based frozen bakery company for approximately US$30.5 million.
This acquisition, pending approval by the authorities, aims to aggressively push Singaporean pastry brands further into the broader Asian and international retail ecosystems. Prior to this new milestone, IFC has successfully transformed itself from a domestic pastry supplier into a regional heavyweight. The company which was established in 2013, leveraged state-of-the-art bake-to-freeze robotic systems to scale operations significantly. Prior to the Anjoy acquisition, IFC’s factories already supply products to over 7,000 retail outlets across China.
After the transaction, the remaining equity in IFC will continue to be held by core members of the original management team, Daniel Tay and Boo Choon Chik, who together will retain approximately 40% equity in IFC. The shareholding structure will help maintain a smooth business transition and management stability following the deal.
The acquisition by Anjoy Foods significantly accelerates IFC’s overseas expansion plans by providing it with massive financial backing and strategic resources. Instead of relying solely on organic growth, IFC is now positioned as the primary anchor for Anjoy’s international ambitions.
About International Foodgnostics Corporation
International Foodgnostics Corporation Pte. Ltd. (IFC), also known as Foodgnostic, is a Singapore-based food manufacturing company founded in June 2013 by veteran pastry chef Daniel Tay. The company whose core business is in R&D, production, and sale of frozen cakes, breads, and baked goods owns well-known local and regional brands including Old Seng Choong, Cat & the Fiddle and Madam Ang KK.
Headquartered in Singapore, IFC has manufacturing and operational footprints spanning Singapore, Malaysia, and China (including facilities in Shanghai and Chongqing).
