Kensington-Chinatown, Toronto · Commercial · Sale Of Business
Last updated by the listing brokerage Sep 14, 2026
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| Tax year | Annual property tax | Change | Source |
|---|---|---|---|
| 2025 | $15,160 | — | MLS® listing |
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Sign in to view historyFong On Foods Ltd is a well-established Asian food manufacturing, wholesale and retail business located on prime frontage in Toronto's iconic Kensington Market. Operating with a front-store and back-factory model, the company specializes in handmade traditional Asian tofu products, rice cakes, and premium Asian pastries. The business generates its core revenue from B2B wholesale distribution, with in-store retail serving as a steady supplementary income stream. Its product lineup includes fresh tofu, fried tofu, tofu pudding, traditional sugar rice cakes, and pandan mung bean cakes - high-demand daily essential food items with stable recurring consumption. The company has built long-term, reliable supply partnerships with major Asian supermarket chains across the Greater Toronto Area, including T&T Supermarket, Nations Fresh Foods, Foody Mart, Bestco, FreshWay, and Btrust. Tofu products are primarily distributed to local wholesale food companies, while signature pastries are supplied directly to retail supermarkets. The operating premise is leased at a monthly base rent of CAD 4,500 with no additional TMI fees. The tenancy has no fixed expiry date, and the landlord has confirmed willingness for continuous renewal. Future rent adjustments will be based solely on property tax increases, providing exceptional rental stability and predictable overhead costs compared to typical commercial leases in Toronto. The core value of this business lies in its established wholesale distribution channels, stable corporate client base, mature product formulas, decades-long local brand reputation, and consistent repeat order flow. All production equipment and operational assets are included in the business sale. As a staple fresh food manufacturer, the business features low cyclical risk, steady customer loyalty, and resilient demand throughout all seasons.
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