In addition to its high growth, Company is best noted for its combination of well-established dining brands, complimented by a deep and experienced professional restaurant management team.
All of the investment to date has come from ‘friends and family’ investors. As Company prepares for this round of pre-IPO investment, we believe that Company has now reached the stage where it is prepared for an institutional round of investment and has fully addressed the previous concerns. The following is an abridged version of Company’s accomplishments over the past 2+ years:
COMPANY ACCOMPLISHMENTS SINCE 2014
• Rapid Revenue Growth: Grown from zero to USD 30 million run rate in sales since initial purchase of TGI Fridays, Taiwan in August, 2004.
• TGIF acquisition and operational improvements: After purchasing TGIF Taiwan, closed 4 under-performing stores, built 3 profitable new stores, and remodeled 2 others. Replaced 60% of menu items from an old and tired menu. Increased training and improved employee retention. Improved store level EBITDA from 8.4% and USD 1.9M during the year before purchase to 13.4% and USD 3.3M (forecast) in 2016.
• Texas Roadhouse Launch: Obtained Taiwan rights for Texas Roadhouse, arguably the most successful western casual dining concept in the USA, both in terms of financial performance and customer satisfaction. Opened two restaurants in Taipei, the first of which immediately became one of the highest grossing western casual restaurants in Taiwan. Obtained rights for Texas Roadhouse for Eastern and Southern China. Preparing to build two more restaurants in Taiwan over the next six months and the first Texas Roadhouse in China.
• Acquisition of high-margin Dan Ryan’s and Amaroni’s businesses: Purchased control of Windy City International, owner of the Dan Ryans and Amaroni’s restaurants. Dan Ryan’s has a history of high volume, high margins, and high customer loyalty for over 25 years. Amaroni’s has demonstrated a similar pattern. By first quarter 2017 will have opened one additional Dan Ryans in Hong Kong and one Amaroni’s in Guangzhou.
• Acquisition of California Pizza Kitchen operations and development rights: Purchased control of the franchise in Shanghai and surrounding provinces, with its successful restaurant operating in Pudong.
Financials: Figures in USD mn
Year Revenue EBITDA
2020F 210 26
2019F 153 16
2018F 113 11
2017F 68 3
2016P 36 -0.6
2015A 31 -0.6
2014A 11 -2.1
This fund raise of USD 25 million is focused on expansion capital for the five brands across China, Hong Kong and Taiwan and is expected to be the last capital raised prior to IPO planned for the second half of 2018. Advisors have already been engaged for the IPO. Investments can be for part or all of the amount being raised. If for some reason you find particular brands or geography of more interest (for example Dan Ryans, or the roll out of Texas Roadhouse in China, or TGIF in Taiwan), Company has flexibility to structure investment in specific areas, with later roll up options to the holding company.
Asking Price $25,000,000
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