Yoshiharu Group secures US$1M investment to enter promising Korean BBQ market

USA – Japanese restaurant operator Yoshiharu Global has announced it successfully closed a non-brokered US$1 million private investment meant to facilitate the restaurant’s entry into the promising Korean BBQ (KBBQ) segment.

The operator did not reveal the accredited investor.

Yoshiharu also revealed the growing popularity of Korean BBQ motivated the private investment drive.

According to data from The Food Institute, global interest in Korean BBQ increased by 90% between 2021 and 2023.

The popularity of Korean BBQ stems from its marinade, popular among many restaurant connoisseurs, which although comparatively different among individual restaurants, typically feature sesame oil and gochujang (a type of red curry paste).

The other unique aspect of Korean BBQ is most restaurants allow the customer to grill their meat using an open-faced tabletop grill.

The Japanese operator reiterated the decision to venture into the Korean market was also informed by the potential synergies that exist between its Japanese culinary offerings and the Korean BBQ concept.

Yoshiharu revealed it intends to combine resources and ingredients used across both culinary segments, which the company revealed makes sense from a financial management perspective, not to mention help attract a broader customer base, and create cross-promotion opportunities.

James Chae, Yoshiharu’s CEO, and Board Chairman said, “This private equity investment will allow Yoshiharu to establish a footprint in the growing Korean BBQ market.”

“Yoshiharu will leverage our industry expertise and robust supply chain to capitalize on the synergies between the KBBQ concept and our current Japanese ramen offering as we look to expand the Yoshiharu brand as a leader in the restaurant industry.”

The investment is considered a reflection of the operator’s strategy of broadening its culinary offerings by incorporating Asian dining concept brands.

In June, the Japanese operator acquired three Asian concept restaurants in Las Vegas- the Jjanga, HJH, and Ramen Aku restaurants- for US$3.6 million from an undisclosed seller.

The undisclosed seller entered into an employment agreement with Yoshiharu to manage the acquired restaurants, expected to generate a combined revenue of US$6 million by the end of the year.

The Japanese operator expressed optimism over the acquisition, based on their impressive performance in the previous years.

Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE

Newer Post

Thumbnail for Yoshiharu Group secures US$1M investment to enter promising Korean BBQ market

ENVI Lodges expands in Tanzania’s Mara region

Older Post

Thumbnail for Yoshiharu Group secures US$1M investment to enter promising Korean BBQ market

ADNH Catering targets US$235M after setting IPO share price

Be the first to leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *