JustKitchen Acquires Virtual Branding Rights to Chili House and Ben Teppanyaki Taiwanese Food Brands
TSXV: JK
Chili House is a Storied Restaurant Brand in Business since 1949 and Ben Teppanyaki is Taiwan's Leading Premium Teppanyaki Cuisine
VANCOUVER, BC, Oct. 12, 2021 /CNW/ - Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTC: JKHCF) (Frankfurt: 68Z), an operator of ghost kitchens specializing in the development of delivery-only food brands, is pleased to announce that it has recently acquired the virtual branding rights to each of the Chili House and Ben Teppanyaki third-party Taiwanese restaurant brands (collectively, the "New Brands"). These mark the first such arrangements for the New Brands with any ghost kitchen operator. In mid-September, the Company launched Chili House-branded food items that are currently being made at 13 of its ghost kitchens. JustKitchen has also initiated the launch of Ben Teppanyaki-branded food items, which are now available at two spoke locations and with more being added in the near future.
Found in 1949, Chili House is a restaurant chain that is highly regarded for both quality and value, most notably being featured in the Michelin Guide's "The Bib Gourmand" for four consecutive years inclusive from 2018-2021. Its signature item is pork dumplings in red oil, and its mala hotpot is made with over 60 different Chinese herbs and spices. Chili House is well known for its menu of traditional Sichuan cuisine, which changes every season. It has been operating with multiple locations for over 40 years and its locations are currently located in the Da'an, Linkou and Xinyi A13 areas of Taiwan.
Ben Teppanyaki has been operating since 1991 and is the leading premium teppanyaki brand in Taiwan. It is well known for infusing French and Japanese elements into its style of teppanyaki cuisine. The boutique chain currently has four locations in Taipei, Taiwan and employs top chefs with innovative techniques to execute on its revered teppanyaki cuisine. All of Ben Teppanyaki's ingredients are of high quality and, for decades, the business has carefully selected top-quality beef as its biggest feature in cooperation with Kumamoto and Hokkaido Wagyu farms.
Management Commentary
"The additions of Chili House and Ben Teppanyaki to our growing portfolio of third-party brands strengthens our position as the leading ghost kitchen partner in Taiwan. I am honoured that each business chose to work with JustKitchen as these local hero brands are treasured by Taiwanese people both locally and abroad," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "The offering of menu items from these New Brands to our delivery-only customers also validates JustKitchen as being able to execute on the preparation of food to some of the highest standards in the world," added Mr. Chen.
ABOUT JUSTKITCHEN
JustKitchen is primarily an operator of ghost kitchens specializing in the development and marketing of proprietary and franchised delivery-only food brands for customers. The Company currently operates in Taiwan and Hong Kong with plans to expand operations to the United States and other Asian countries. JustKitchen uniquely utilizes a hub-and-spoke operating model, which features advanced food preparation taking place at larger hub kitchens and final meal preparation taking place at smaller spoke kitchens located in areas with higher population densities. The Company combines this operating model with online and mobile application-based food ordering fulfilled by third-party delivery companies, to minimize capital investments and operating expenses and reach more customers in underserved markets. The Company's other business, JustMarket, is an e-commerce grocery delivery platform that allows customers to purchase groceries for delivery or add select grocery items to meals ordered through JustKitchen.
For more information about the Company, please visit investors.justkitchen.com. JustKitchen's final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on the Company's profile page on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur including but not limited to the Company's comments regarding the increase in number of locations through which the new restaurant brands will be available. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks, including those risk factors identified in the Company's prospectus dated March 26, 2021, and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Just Kitchen Holdings Corp.
Just Kitchen Holdings Corp., Suite 1430, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6, Nick Kuzyk, Investor Relations, Toll-Free: 1-855-JST-KCHN (1-855-578-5246), Email: [email protected]
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