JustKitchen Launches Delivery-Only Paul Café, Hutong and Ice Monster Branded Food Items
Ghost Kitchen Operator Also Announces the Hiring of Deliveroo's Former Head of Commercial in Taiwan
TSXV: JK
VANCOUVER, BC, Aug. 4, 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 launched multiple delivery-only desserts in association with Boulangeries Paul SAS ("Paul Café"), the global chain of bakeries and cafés with operations in 47 countries that was founded in France in 1889. Paul Café-branded macarons and Basque cheesecake items were added to the Company's established Body Fit, Thai High, BIT Beef Noodle and Craftsman's Soul Made menus on July 24, 2021.
Virtual Branding Rights to Hutong:
The Company has recently acquired the virtual branding rights to the Hutong Yakiniku brand ("Hutong") from GYEN Intl Business Co., Ltd. (the "GYEN Group"). Established in 2005, Hutong is one of the best Japanese barbecue cuisine offerings in Taiwan and has rapidly become a well-known name both locally and abroad with 11 restaurants in Taiwan, 11 in China and one in Hong Kong. The GYEN Group owns five restaurant brands, including the Michelin-rated Taipei Toriki, and its brands have become popular due to their focus on quality, attentiveness, passion and creativity as well as their reputation for excellent customer service. JustKitchen began offering several Hutong-branded items on its proprietary JustKitchen app and on third-party delivery platforms on July 28, 2021. The Company holds the delivery-only rights to offer Hutong food items for an initial period of three years, with a two-year renewal term subject to mutual consent.
Virtual Branding Rights to Ice Monster:
JustKitchen has recently acquired the virtual branding rights to the local Taiwanese Ice Monster brand ("Ice Monster"). Operating since 1997, Ice Monster is a popular shaved ice dessert shop that successfully expanded to Japan and China in 2015 and Hawaii in 2017. Ice Monster is well known for its mango-flavoured shaved ice dessert, which features three different varieties of mangos. JustKitchen launched delivery-only Ice Monster desserts on its proprietary JustKitchen app and on third-party delivery platforms on July 24, 2021. The association with Ice Monster further emphasizes the Company's focus on adding new dessert items to its portfolio of proprietary menus.
Former Head of Commercial for Deliveroo Taiwan Michael Liu Joins JustKitchen:
The Company is pleased to announce that it has hired Michael Liu as its Executive Vice President of Operations. Prior to his current role with JustKitchen, Mr. Liu was the Head of Commercial for Deliveroo in Taiwan since 2019, which involved leading a commercial team of over 40 professionals connected to a portfolio of over 5,000 restaurant partners. Previous to that role, Michael was the Chief Operations Officer of the Supreme Café Group from 2014-2018 with 55 locations in four countries, which was preceded by being the Director of Operations for Waves Coffee International from 2010-2014.
Management Commentary:
"Our strategy of acquiring the virtual branding rights for established third-party brands to complement our growing stable of in-house menus continues to differentiate JustKitchen in the ghost kitchen industry. The addition of the global Paul Café brand, along with the popular local Hutong and Ice Monster names, brings our portfolio to nearly 30 in total," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "We are also excited to have such a seasoned individual as Michael Liu join our team. JustKitchen's accomplished group of executives, directors and advisors keeps getting stronger and I welcome Michael and his valuable industry experience to our company," 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 Company's association with Ice Monster further emphasizing its focus on adding new dessert items to its portfolio of proprietary menus; and the Company's strategy of acquiring the virtual branding rights for established third-party brands to complement its growing stable of in-house menus continuing to differentiate it in the ghost kitchen industry. 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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