DFI Retail Group Holdings Limited (formerly known as Dairy Farm International Holdings Limited) is a Hong Kong retail company with its legal base in

Bermuda ) , anthem = "God Save the King" , song_type = National song , song = "Hail to Bermuda" , image_map = , map_caption = , image_map2 = , mapsize2 = , map_caption2 = , subdivision_type = Sovereign state , subdivision_name = , es ...

. A member of the

Jardine Matheson Group Jardine Matheson Holdings Limited (also known as Jardines) is a Hong Kong-based Bermuda-domiciled British multinational conglomerate. It has a primary listing on the London Stock Exchange and secondary listings on the Singapore Exchange a ...

, it is a major

East Asia East Asia is the eastern region of Asia, which is defined in both geographical and ethno-cultural terms. The modern states of East Asia include China, Japan, Mongolia, North Korea, South Korea, and Taiwan. China, North Korea, South Korea ...

Southeast Asia Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia, South-eastern Asia or SEA, is the geographical south-eastern region of Asia, consisting of the regions that are situated south of mainland ...

n retailer involved in the processing and wholesaling of food and health and beauty products. Jardine Strategic, a publicly listed

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

, has an attributable 78 percent stake in the firm. It is listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

, with secondary listings on the

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

and Bermuda

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for t ...

s. The head office is in the Devon House in Taikoo Place,

Quarry Bay Quarry Bay is an area beneath Mount Parker in the Eastern District of Hong Kong Island, in Hong Kong. The western portion of the area was also formerly known as Lai Chi (). Traditionally an industrial and residential area, the number of comme ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...

. As of 31 December 2020, the Group, its associates and joint ventures operated over 9,997 outlets; Wellcome/Food World (supermarkets), a controlling stake in Maxim's Catering ( foodservice), Cold Storage (supermarkets), Jasons Market Place/Market Place by Jasons/Jasons Food Hall (high end supermarkets), Giant (hypermarkets),

Hero A hero (feminine: heroine) is a real person or a main fictional character who, in the face of danger, combats adversity through feats of ingenuity, courage, or strength. Like other formerly gender-specific terms (like ''actor''), ''her ...

(supermarkets), Mannings/Guardian (health and beauty) stores; it also operates

7-Eleven 7-Eleven, Inc., stylized as 7-ELEVE, is a multinational chain of retail convenience stores, headquartered in Dallas, Texas. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. A ...

(convenience stores) throughout the region, and

IKEA IKEA (; ) is a Dutch multinational conglomerate based in the Netherlands that designs and sells , kitchen appliances, decoration, home accessories, and various other goods and home services. Started in 1943 by Ingvar Kamprad, IKEA has been ...

(home furnishings) stores in

Macau Macau or Macao (; ; ; ), officially the Macao Special Administrative Region of the People's Republic of China (MSAR), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. With a pop ...

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Gui ...

and

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the no ...

. The group and its associates and joint ventures operated over 9,997 outlets, employed over 220,000 people and had total annual sales in excess of US$28.2 billion.

History

Dairy Farm was set up in 1886 by Sir Patrick Manson,Hong Kong Hongs with Long Histories and British Connections
" Hkjo.lib.hku.hk, Retrieved on 2013-01-03. a Scottish surgeon, and five well known Hong Kong businessmen. They initially aimed to improve the health of Hong Kong people by providing them with non-contaminated cows' milk and to import a herd of dairy cattle so as to decrease the price of milk by more than half. The farm was located in Pok Fu Lam. In 1890, Dairy Farm built a low-rise brick and stucco building on Lower Albert Road in

Central Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known a ...

for use as a cold storage warehouse. This warehouse was later renovated and expanded in 1913 to include a dairy shop, a room for meat smoking, a cold storage room for winter clothes and residency for its manager. The building later evolved into the company headquarters until the company moved in the 1970s. The abandoned building was acquired by the

Hong Kong Fringe Club The Fringe Club is a not-for-profit arts organisation. Its mission is to help emergent artists, promote Hong Kong artists abroad through cultural exchange and overseas touring, and conserve and develop Hong Kong cultural heritage. It provide ...

, a non-profit-making arts organisation in 1984, and has been carefully restored. This distinctive 19th century building, now known as the

Old Dairy Farm Depot The Old Dairy Farm Depot, or Old Dairy Farm Building, is a building in Central, Hong Kong, which currently houses the Hong Kong Fringe Club (South Block) and the Foreign Correspondents' Club (North Block). It is located at 2 Lower Albert ...

, is a well-known landmark in Central providing a wide variety of cultural activities and performances. In 1904, Dairy Farm began importing frozen meat and opened its first retail store at the Central District depot. The second Dairy Farm store was established on

Nathan Road Nathan Road is the main thoroughfare in Kowloon, Hong Kong, aligned south–north from Tsim Sha Tsui to Sham Shui Po. It is lined with shops and restaurants and throngs with visitors, and was known in the post– World War II years as the Gol ...

Kowloon Kowloon () is an urban area in Hong Kong comprising the Kowloon Peninsula and New Kowloon. With a population of 2,019,533 and a population density of in 2006, it is the most populous area in Hong Kong, compared with Hong Kong Island and ...

towards the end of the war in 1918. Amongst other things, this store provided fishing boats in Hong Kong with large amounts of ice. In 1960, Dairy Farm and Lane Crawford formed a merged food retailing operations and renamed these supermarkets as Dairy Lane under Dairy Lane Limited. This joint business was undone by the acquisition of the Wellcome chain in 1964. In 1972, Dairy Farm was acquired by Hong Kong Land, a Jardines subsidiary. In 1986 Dairy Farm was relisted on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...

after it was demerged from Hong Kong Land. Dairy Farm acquired a 50% interest in Maxim's at the same time from Hong Kong Land. The

convenience store chain in Hong Kong and Singapore was acquired from Jardine Matheson in 1989. Since 1999, Dairy Farm has continued to expand its footprint by acquiring supermarket and other retail operations in Taiwan, Malaysia, Singapore and Indonesia. Notably, it also acquired

Hong Kong, Taiwan in 2002 and began Ikea's Indonesian operation in 2014. In May 2012, Dairy Farm bought a 50% stake in the Rustan Supercenters, Inc., the Rustan group's supermarket chain. 36% came from the Tantoco family and 14% from the Spinnaker group. Its holdings increased to 64% in 2015 and 100% in 2017. On March 23, 2018, the entire stake was sold to Robinsons Retail Holdings, Inc. through a

stock swap In corporate finance a stock swap is the exchange of one equity-based asset for another, where, during the merger or acquisition, the swap provides an opportunity to pay with stock rather than with cash; see . Overview The acquiring company e ...

, yielding Dairy Farm 18.25% of Robinsons Retail Holdings, Inc. stock. In 2018, therefore, Rustan Supercenters are fully acquired by Robinsons Retail Holdings the 20.00% of which is owned by Mulgrave Corporation and GCH Investments, wholly owned subsidiaries of Dairy Farm. As of June 2011, Dairy Farm is 78% owned by Jardine Matheson Holdings. In August 2021, Dairy Farm rebranded its trading name to DFI Retail Group. On 5 May 2022, the company subsequently changed its legal name to DFI Retail Group Holdings Limited, effectively phased out the Dairy Farm branding.

Discontinued operations

*In 1998, Dairy Farm sold out its 49% interest in Nestlé Dairy Farm, set up in 1992 to develop dairy products factories throughout China, to

Nestlé Nestlé S.A. (; ; ) is a Switzerland, Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest publicly held food company in the world, measured by revenue and other me ...

; on the merger of Kwik Save with

Somerfield Somerfield (; originally Gateway) was a chain of small to medium-sized supermarkets operating in the United Kingdom. The company also previously owned the Kwik Save chain of discount food stores. The company was taken over by the Co-operati ...

, Dairy Farm sold its 11% holding for US$290 million. Dairy Farm acquired 25% of the "No Frills" Kwik Save Group in 1987; Sold the 108-store Simago chain in Spain acquired in 1990. *In March 2000, Dairy Farm sold its half share in DFI Géant, the Taiwan hypermarket opened in 1998 back to

Casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live enterta ...

, its joint venture partner. *In 2001, the company sold the 287-store

Franklins Franklins was an Australian discount supermarket chain selling packaged groceries and perishables throughout New South Wales, Queensland, Victoria and South Australia. It sold the "No Frills" home brand generic products. In 2011 the chain w ...

chain in Australia which it acquired in 1978. Its Hong Kong-based distribution business, Sims Trading, was sold to CITIC Pacific. *In June 2002, the 61-store

Woolworths Woolworth, Woolworth's, or Woolworths may refer to: Businesses * F. W. Woolworth Company, the original US-based chain of "five and dime" (5¢ and 10¢) stores * Woolworths Group (United Kingdom), former operator of the Woolworths chain of shop ...

chain in New Zealand acquired in 1990, was sold for US$337 million. *In 2004, the Group's Hong Kong ice manufacturing business which began in 1918 was sold for US$107 million.

Controversy

Wellcome, a major food retailer owned by Dairy Farm Group, have been cited by the Taiwanese government for 33 labor violations in Taiwan. These include instances of maintaining unsafe work spaces that potentially endangered employees, having staff members work unpaid overtime beyond legal limitations, and refusing pay and rest time to employees.

References

External links

* {{Authority control Dairy products companies of Hong Kong Jardine Matheson Group Retail companies established in 1886 Companies formerly listed on the Hong Kong Stock Exchange Former companies in the Hang Seng Index Retail companies of Hong Kong Companies listed on the London Stock Exchange Companies listed on the Singapore Exchange 1973 mergers and acquisitions

History

Discontinued operations

Controversy

See also

References

External links