US-based restaurant operator Yoshiharu Global has secured a non-brokered $1m private placement investment from an accredited investor.
The restaurant brand, which is known for its Japanese ramen and rolls, plans to use the amount to fund its expansion into the Korean BBQ (KBBQ) segment, tapping into the growing demand within Southern California.
The company noted that the popularity of Korean cuisine, particularly Korean BBQ, has seen a significant rise.
Since its inception in 2016, Yoshiharu has developed its presence in the foodservice sector and intends to utilise its industry experience to succeed in this new venture.
The company said it recognises the potential synergies between its current Japanese culinary offerings and the KBBQ concept.
By combining resources and ingredients used across both segments, Yoshiharu aims to enhance its purchasing power, attract a broader customer base, and create cross-promotion opportunities.
Yoshiharu Board chairman, president and CEO James Chae 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.
“We are expecting to make additional announcements soon as other investors want to join the Company’s KBBQ business.”
In June, Yoshiharu Global acquired three eateries in Las Vegas, Nevada, from an undisclosed seller.
As part of the $3.6m deal, Yoshiharu Global acquired the Jjanga, HJH, and Ramen Aku restaurants.
The purchase was made using cash, a promissory note and a convertible note. The convertible note allows the seller to opt to convert the debt into Class A shares of Yoshiharu Global.
“Yoshiharu secures investment to expand into Korean BBQ market” was originally created and published by Verdict Food Service, a GlobalData owned brand.
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