Just Kitchen Holdings Corp (OTCMKTS:JKHCF) Stock Continues to Trend Higher: Up 13% In a Week
Shares of Just Kitchen Holdings Corp (OTCMKTS:JKHCF) continued to move higher on Tuesday and now up 13% in a week.
Market Stats
On Tuesday, JKHCF stock moved up 1.01% to $1.01 with more than 2k shares, compared to its average volume of 7K shares. The stock has moved within a range of $1.0101 – 1.0101 after opening trading at $1.01.
Signs Letter Agreement
The operator of ghost kitchens specializing in the development of delivery-only food brands, Just Kitchen Holdings Corp (OTCMKTS:JKHCF) on January 4, 2021, announced a signing letter agreement for purchasing 100% interest in a 46,000 square foot commercial kitchen facility in Taipei, Taiwan.
The total consideration for Mega Spoke will be 1.9 million Canadian dollars and will enable the company to prepare food items from up to 40 different menus.
Mega Spoke has a technology system giving JustKitchen to integrate food ordering as well as receive functions across the unique hub-and-spoke operating model in the country.
The firm also announced recently on acquiring WeChef, a 2,900 square foot commercial kitchen facility located in the highly-denseDa’an District of Taipei. WeChef Kitchen will facilitate JustKitchen’s ability for securing enterprise-level brands requiring bigger spaces due to robust demand for food items.
Jason Chen, Co-Founder and Chief Executive Officer of JustKitchen said that the acquisition of 46,000 square foot Mega Spoke can be a game-changer for the company’s hub-and-spoke model of operations in Taiwan.
Chen added that the facility will boost the capability of processing bigger volumes of food delivery and also increase its research and development capabilities for new food products. Additionally, the CEO is hoping that it would help train new staff and incubate talented chefs. The CEO opined that the specialized kitchen facility from WeChefwill help the company expand the service offering to include walk-up service.
