JustKitchen Signs Agreement to Serve IHOP® in Taiwan
The Company Enters Arrangement with Dine Brands to Sell IHOP®'s Iconic Food Items from Multiple Ghost Kitchen Locations
VANCOUVER, BC, April 26, 2022 /CNW/ - Just Kitchen Holdings Corp. ("JustKitchen" or the "Company") (TSXV: JK) (OTCQB: JKHCF) (FRA: 68Z), a technology focused and enabled operator of ghost kitchens specializing in the development of delivery-only food brands, is pleased to announce an agreement (the "Agreement") with Dine Brands International, Inc. ("Dine Brands") to sell IHOP®'s World-Famous Pancakes, Breakfast Combos, Omelettes, Burritos, Bowls, and more from a minimum of seven of its ghost kitchen locations in Taiwan. The initial seven locations are selected by the Company's Data Science team to further its data analysis for highest product market fit, with additional rollouts to follow. IHOP®'s innovative menu with easy portability in mind will be offered to delivery-only consumers via mobile applications and prepared at JustKitchen's locations in Neihu, Bade, Zhonghe, Fuzhou, Renai, Minsheng and Sanchong. The Agreement grants JustKitchen the right to cook and prepare IHOP® meals using ingredients and recipes approved by Dine Brands.
For more than 63 years, IHOP® has been a leader, innovator and expert in all things breakfast, any time of day. The chain offers 65 different signature, fresh, made-to-order breakfast options, and a wide selection of popular lunch and dinner items. As of September 30, 2021, there are 1,750 IHOP® restaurants around the world, including restaurants in the United States and the District of Columbia, Puerto Rico, and Guam as well as Canada, Ecuador, India, Mexico, Pakistan, Panama, and Peru. Once IHOP® is successfully launched by JustKitchen in Taiwan, the Company will strive to offer the brand in its other current markets.
"We are excited to be working with Dine Brands and our data analytics show that the cuisine gap and demand exists for JustKitchen to begin serving IHOP® to new and existing customers in the Asia Pacific region. I am proud of our team for continuing to add to our portfolio of global brands and for being able to bring a brand as iconic as IHOP® to the delivery-only food market in Taiwan," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "Dine Brands and JustKitchen are committed to offer and market the IHOP® brand and bring its international appeal to our customers. Moreover, we will work hard to make this deal a success and are looking forward to identifying future opportunities for growth with Dine Brands," added Mr. Chen.
"At Dine Brands, we are continuing to grow our iconic brands' international presence through multiple channels, including innovative ghost kitchens," said Gary Moore, Regional Vice President of Franchise Operations, Dine Brands Global, Inc. "Thanks to our partnership with JustKitchen, we will now be able to serve IHOP®'s world-famous pancakes and familiar comfort foods to residents in Taiwan."
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee's Neighborhood Grill + Bar and IHOP® brands. With approximately 3,440 restaurants combined in 16 countries and approximately 350 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company's website located at www.dinebrands.com.
JustKitchen is primarily a technology focused and enabled 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, Singapore and Hong Kong with plans to expand operations to 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 finalizing the menu in the near future; offering IHOP®-branded meals to delivery-only consumers via mobile applications and preparing them at seven locations in Taiwan; and offering IHOP®-branded food items in Hong Kong, the Philippines and Singapore, as well as others, in the future. 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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