19th century: Early history
Dairy Farm Company Ltd was set up in 1886 by Sir Patrick Manson,[4] a Scottish surgeon, along with Sir Paul Chater, Mr Phineas Ryrie, Mr Granville Sharp, Mr WH Ray and Mr JB Coughtry, five other prominent Hong Kong businessmen.[5] The company was created with three founding objectives: to improve the health of Hong Kong people by providing them with non-contaminated cows' milk, to breed a herd of imported dairy cattle locally to decrease the price of milk by half, and to realise profit for its shareholders.[5] Manson purchased 80 Friesian cows from Scotland and a plot of land for his farm in Pok Fu Lam.[6]
In 1890, Dairy Farm built a low-rise brick and stucco building on Lower Albert Road in Central 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, a non-profit-making arts organisation in 1984, and has been carefully restored. This distinctive 19th century building, known as the Old Dairy Farm Depot, is a well-known landmark in Central providing a wide variety of cultural activities and performances.
20th century
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, Kowloon 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.[7]
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 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 7-Eleven convenience store chain in Hong Kong and Singapore was acquired from Jardine Matheson in 1989.
21st century
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 IKEA 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.[8][9] Its holdings increased to 64% in 2015[10] and 100% in 2017.[11] On March 23, 2018, the entire stake was sold to Robinsons Retail Holdings, Inc. through a stock swap, yielding Dairy Farm 18.25% of Robinsons Retail Holdings, Inc. stock.[12]
