Kingza International Enters the Vegetarian Market, Acquires 51% Stake in Yang Shin Restaurant Group, Expanding Brand Portfolio to 8

Kingza International aims to open 69 new stores in Taiwan this year, with double-digit growth in consolidated revenue expected for the full year

Kingza International Co., Ltd. (stock code: 2751) announced today (April 23) the acquisition of a 51% stake in Yang Shin Restaurant Group—a vegetarian brand specializing in Hong Kong-style dim sum, Korean cuisine, and baking—for NT$107.1 million. This marks Kingza’s first step beyond operating franchised direct-chain food and beverage services, utilizing mergers and acquisitions to expand its business footprint. This move will enhance its influence and diversify its brand portfolio within the Taiwanese dining market. Yang Shin Restaurant Group is expected to start contributing to revenue in June this year, driving Kingza’s full-year consolidated revenue to achieve double-digit growth.

Yao-Hui Wang, Chairman of Kingza International, stated that Kingza has been deeply cultivating the Taiwanese dining market, leveraging its “Brand Platform Center” to provide diverse food services including Chinese, Japanese, and Korean cuisines. With the rise of healthy eating and low-carbon lifestyles, Taiwanese consumers’ demand for vegetarian dining continues to increase, particularly for creative plant-based dishes. In light of this, Kingza’s acquisition of Yang Shin Restaurant Group opens a new dining track for the company. Moving forward, Kingza will leverage its know-how in chain restaurant services to help Yang Shin’s brand stores develop their franchise business and plan for continuous store expansion. New restaurants are expected to open in Taiwan in the second half of the year. By the end of this year, Kingza aims to have a total of 62 stores under its own brands and 7 direct-sale stores under Yang Shin’s brands in the Taiwanese market, bringing the total to 69 stores. The company is also looking for opportunities to export Yang Shin brands overseas through a franchise model, targeting regional markets such as the United States, Southeast Asia, and Northeast Asia.

Kuo-Hsi Hung, Founder of Yang Shin Restaurant Group, stated that the group’s founding philosophy combines Hong Kong-style dim sum with vegetarianism. By partnering with smallholder farmers to provide healthy, organic ingredients and cooking with whole foods, the group has cultivated many loyal customers. Starting with “Yang Shin Vegetarian Restaurant” (vegetarian Hong Kong-style dim sum), the group has expanded to “Yache” (Korean vegetarian), “NOZOMI” (bakery), and entered Xindian Yulon City in Q3 2023 with the youth-oriented brand “Yang Shin Salon.” The brand’s reach has even extended to China Airlines’ VIP lounges. Currently, Yang Shin Restaurant Group operates 5 direct-sale stores with an annual revenue of approximately NT$300 million. With the launch of a central kitchen enabling bulk ingredient preparation, the group will partner with Kingza International to bring “Yang Shin Vegetarian Restaurant” into department store channels, further expanding its market share in Taiwan’s vegetarian market.

Tzu-Heng Lin, General Manager of Kingza International, noted that the consolidated revenue brands acquired this time encompass Hong Kong-style vegetarian, Korean vegetarian, bakeries, and innovative East-meets-West fusion vegetarian cuisine. Store formats include both street-level shops and department store locations. Added to the existing brands—”Ginza Anzu” (Japanese pork cutlet), “Osaka Ohsho”, “Duan Chun Zhen”, “Kyoto Katsugyu”, and “Kyochon”—Kingza’s brand portfolio increases to eight, with a total of 64 direct-sale stores across Taiwan. By partnering with Yang Shin, Kingza will expand its market share in Taiwan’s dining sector and satisfy consumers’ demand for dining diversity through a multi-brand strategy. Yang Shin is expected to begin contributing to Kingza’s revenue in June this year. Coupled with the openings of “Osaka Ohsho” and “Kyoto Katsugyu” at Nangang LaLaport in March and April, and plans to open 3 more stores in Taiwan in the second half of the year, this partnership will drive Kingza’s full-year consolidated revenue to achieve double-digit growth.