JK.v announces KaaS partnership to service Thailand. Ghost kitchen operator JustKitchen (TSXV: JK) announced this week that it is beefing up its services in Thailand. The company has entered into an agreement with GrabKitchen to provide physical kitchen space on a Kitchen-as-a-Service (KaaS) basis. Grab is Southeast Asia's leading 'super app' based on gross merchandise value in 2021 in each of food delivers, mobility, and the e-wallets segment of financial services, according to Euromonitor.
The Thailand Location is situated near a busy commuter rail hub that is supplemented by a steady flow of other traffic. Immediately upon opening, the Thailand Location will serve JustKtichen's Master Don food brand, followed shortly thereafter by the K.Bao brand, featuring a customized menu with a local twist, as well as the Bodyfit brand. The Southeast Asian on-demand food delivery market is experiencing a high annual growth rate of 14%, which implies that the market will eventually reach a total value of $49.7 billion by 2030.
JK has been making some very strategic moves lately, targeting growing markets with its expansion and launching proven brands in new markets.
JK.v is currently trading at $.125, valued at $9.4 million.
https://ceo.ca/@newswire/justkitchen-expanding-to-thailand-via-grabkitchen-arrangement