TSXV: JK
Delivery-Only TGI Fridays Go Burgers Collection and Cali Vibe Bento Brand Also Launched by the Company
VANCOUVER, BC, July 15, 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 opened its 20th ghost kitchen across the Company, located in the special municipality of Taoyuan, Taiwan (the "Taoyuan Spoke"). The Company has also launched two new delivery-only offerings including the TGI Fridays Go Burgers Collection ("TGIF Go Burgers Collection") and the Cali Vibe proprietary bento food brand ("Cali Vibe Bento") (collectively, the "TwoNew Menus").
20th Ghost Kitchen:
The Taoyuan Spoke marks the Company's 19th location in Taiwan and 20th in total when including the previously announced North Point location in Hong Kong that became operational in mid-June. Taoyuan is the fifth largest city in Taiwan due to its proximity to the neighbouring city of Taipei and is home to the country's international airport. The Taoyuan Spoke is expected to serve customers working in technology and entrepreneurship, which are the major sectors of focus in Taoyuan.
Two New Menus – TGI Fridays Go Burgers Collectionand Cali Vibes Bento:
The Two New Menus currently form part of JustKitchen's total offering of approximately 25 proprietary and third-party food menus. They are currently available via the JustKitchen app and other third-party delivery platforms to customers in the vicinity of select JustKitchen ghost kitchen locations.
The delivery-only TGIF Go Burgers Collection was developed in cooperation with TGI Fridays based on the Company's existing relationship with the global enterprise. The TGIF Go Burgers Collection adds three new TGI Fridays hamburgers to its TGIF Go offering, for the Company to strive to capture the most frequently ordered American food items on third-party delivery applications.
The Cali Vibe Bento brand was created in-house by JustKitchen and the menu features healthy bento items for people who want smaller portions of protein for their diets. The brand also offers lower price points, starting at $5.35 per item. The Cali Vibe Bento brand is intended to fill a demand gap identified by the JustKitchen team for lower-priced bento items, especially for customers outside of Taipei.
Management Commentary:
"The opening of our 20th ghost kitchen, being our 19th Spoke location in Taiwan, is another milestone that I'm proud to highlight. I am happy that we are approaching our goal of having 22 Spokes in Taiwan by the end of 2021 significantly ahead of schedule," said Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen. "JustKitchen's rapid growth continues through the recent launch of the TGI Fridays Go Burgers Collection and the Cali Vibe Bento proprietary food menu. I would like to commend the efforts of our multi-functional team as they identify gaps in the market and then worked hard to develop and deploy these new items quickly for the benefit of our customers," 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 availability of the TGIF Go Burgers Collection and the Cali Vibe Bento menus on third-party applications; TGI Fridays hamburgers being among the most frequently ordered American food items on third-party delivery applications in Taiwan; and the Cali Vibe Bento brand filling a demand gap identified by the JustKitchen team for lower-priced bento items especially for customers outside of Taipei. 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.
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