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Yoshiharu Closes $1.0 Million Private Placement Equity Investment to Advance Expansion into Korean BBQ Segment
Globe Newswire 2-Oct-2024 8:31 AM
Investment Commences Rollout of Strategic Entry into High Growth Category, Leveraging Synergies with Existing Ramen Business to Drive Market Opportunity and Footprint
BUENA PARK, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Yoshiharu Global Co. (NASDAQ:YOSH) ("Yoshiharu" or the "Company"), a restaurant operator specializing in authentic Japanese ramen & rolls, today announced the closing of a non-brokered $1.0 million private placement investment from an accredited investor and intends to use these proceeds for the Company's expansion into the Korean BBQ ("KBBQ") segment.
As previously-announced, Yoshiharu has identified a growing trend of demand for KBBQ cuisine, predominantly in Southern California, as the popularity of Korean food has expanded American's rising appetites for Korean BBQ. Having operated in the restaurant sector since 2016, Yoshiharu has leveraged its extensive industry experience and expertise to build a robust network of supply chain stakeholders essential for successful restaurant operations. Recognizing the synergies between its existing suite of culinary offerings and the KBBQ concept, the Company plans to capitalize on the synergies of resources and ingredients for both segments to enhance purchasing power, attract a wider audience, and explore cross-promotion opportunities to further solidify and expand the Yoshiharu brand.
"This private equity investment will allow Yoshiharu to establish a footprint in the growing Korean BBQ market," said James Chae, Yoshiharu's President, CEO, and Chairman of the Board. "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. We are expecting to make additional announcements soon as other investors want to join the Company's KBBQ business."
About Yoshiharu Global Co.
Yoshiharu (NASDAQ:YOSH) is a fast-growing restaurant operator and was born out of the idea of introducing the modernized Japanese dining experience to customers all over the world. Specializing in Japanese ramen, Yoshiharu gained recognition as a leading ramen restaurant in Southern California within six months of its 2016 debut and has continued to expand its top-notch restaurant service across Southern California and Las Vegas, currently owning and operating 14 restaurants.
This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding our position to execute on our growth strategy, and our ability to expand our leadership position. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in, or suggested by, these forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our filings with the SEC including our Form 10-K for the year ended December 31, 2023, and subsequent reports we file with the SEC from time to time, which can be found on the SEC's website at www.sec.gov. Such risks, uncertainties, and other factors include, but are not limited to: the risk that our plans to maintain and increase liquidity may not be successful to remediate our past operating losses; the risk that we may not be able to successfully implement our growth strategy if we are unable to identify appropriate sites for restaurant locations, expand in existing and new markets, obtain favorable lease terms, attract guests to our restaurants or hire and retain personnel; that our operating results and growth strategies will be closely tied to the success of our future franchise partners and we will have limited control with respect to their operations; the risk that we may face negative publicity or damage to our reputation, which could arise from concerns regarding food safety and foodborne illness or other matters; the risk that that minimum wage increases and mandated employee benefits could cause a significant increase in our labor costs; and the risk that our marketing programs may not be successful, and our new menu items, advertising campaigns and restaurant designs and remodels may not generate increased sales or profits. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Relations Contact:
Larry W Holub Director MZ North America YOSH@mzgroup.us 312-261-6412
