Announcing a new shareholder group, Golden Gate aims to achieve a 1 billion USD revenue milestone
According to Mr. Hoang Quoc Khanh, Operations Division Director Golden Gatethe total transfer value of the deal is confidential information.
The shareholder structure changed as follows, 32.92% of the capital contribution of former investors Prosperity Food Concepts Pte Ltd (PFC) and a small part of the capital contributions of the two founders of the Company have been converted into new investors are Temasek Group; SeaTown Private Capital and Periwinkle Pte Ltd (Singapore). After the transfer transaction, the new shareholder group owns 35.95% of Golden Gate’s shares.
Golden Gate “Magnetic Rod”
Mr Hoang Quoc Khanh – Operations Manager of Golden Gate shared with CafeBiz that this is an important deal as the new shareholder group is a large international investment fund. Meanwhile, former PFC shareholders have successfully invested after 3 years of pouring capital into Golden Gate.
PFC’s significant contribution to Golden Gate can be cited as the orientation and mentoring of the company’s leadership to increase management capacity, focus on expanding and developing the important brands that bring Golden Gate to life. that each restaurant in the chain operates efficiently.
PFC also assisted Golden Gate in handling the crisis during the Covid period, including providing orientation on cost control, cash flow management and balance sheet management…
The fact that a new group of shareholders chose Golden Gate for investment in the context of the still tense Covid-19 pandemic in Vietnam proves that they believe in Golden Gate’s capabilities and the future of Vietnam’s F&B industry.
Business results data shows that Golden Gate has been actively adapting to the “new normal” situation very well. In particular, in 2020, the company achieved a revenue of 4.559 billion VND, a slight decline despite the period when all restaurants in the Golden Gate system were forced to close due to the epidemic.
An important business indicator is that the company’s gross profit margin is still maintained at a very high level, around 60%, and is reporting an after-tax profit of 65 billion dong in 2020. In addition, Golden Gate’s main customer file is a group of office workers. , households with good income or more.
This customer group has the ability to recover their consumption quickly and still maintain the habit of eating out after every stressful epidemic. For example, after the quarantine period in April 2020, brands such as GoGi House, Manwah, Kichi – Kichi filled 80 to 100% capacity in the first week of reopening.
Golden Gate culinary brand.
Mr Khanh said, Golden Gate focuses on promoting diversification of revenue sources, optimizing costs, and improving operational efficiency. They launched services such as G – Delivery (home delivery), Ready – to – eat branded iCook (prepared, frozen, and packaged food).
In addition, Golden Gate also focuses on developing the management team and corporate culture. This is also the point that makes a strong impression on all investors when learning about Golden Gate, Mr Khanh shared.
A new group of shareholders will join Golden Gate’s Board of Directors and support the Company in planning its business strategy, and together with us, continue to improve modern corporate governance systems to world standards.
“Together with new investors, we still aim to be the “No. culinary choice. 1” customer.“, Mr Hoang Quoc Khanh answered a question from CafeBiz.
Khanh also shared about Golden Gate’s positive business results in 2021 – a huge plus for the company compared to other competitors – despite the negative impact of the pandemic on the entire household business sector in Vietnam.
Although in 2021, according to the regulations on the prevention and control of provincial and municipal epidemics, the company must close the restaurant 1/3 of the operating days this year, the company still achieved a revenue of 3.320 billion VND, equivalent to 3.320 billion VND 73% revenue in 2020.
Revenue recovered and grew again, especially from Q4/2021 when restaurants started to reopen. The number of restaurant visitors in October 2021 increased 4 times compared to the previous month, the number of visitors in December 2021 reached more than 1 million times, double that of October 2021.
In 2021, Golden Gate opened 44 new restaurants, closed and converted 37 restaurants. Until the end of February 2022, Golden Gate has a total of more than 400 restaurants in more than 40 provinces and cities throughout Indonesia.
Invest in breadth and depth
With the participation of a new shareholder group with strong financial potential and modern management capacity, Golden Gate is said to be like a “tiger-raising wing”.
Strategic planning in the next 3 years is determined by this leading F&B company to continue to focus strongly on its core business, namely the restaurant chain business, to ensure the highest percentage of double-digit revenue growth per year as before the pandemic.
Nor do they intend to invest in multiple industries to ensure resources are focused on the core business.
Thus, there are 2 main strategic groups, as stated by Mr. Hoang Quoc Khanh.
first, restaurant chain growth (investment width). Golden Gate plans to open 600 more restaurants in the next few years, bringing the number of restaurants to 1,000 nationwide. This number would have been completed sooner were it not for the two years that were heavily affected by the epidemic.
According to the Director of Operations at Golden Gate, they will continue to focus on the strength of the Hot Pot industry, with well-known brands GoGi House, Manwah, Kichi – Kichi… These brands are still major contributors. business revenue and is a major lever for the future development of Golden Gate.
Golden Gate plans to develop more Japanese-inspired menus in restaurants serving Japanese cuisine such as iSushi, Shogun, Sumo Yakiniku… and place these brands in the center of commerce and expand to major cities outside Hanoi and Ho Chi Minh.
Second, improve restaurant business efficiency (deep investment), in particular improve customer experience in the next 3 years. Since 2019, according to Mr. Khanh, Golden Gate has invested a lot of resources to improve the experience space for customers.
“By the end of 2020, most of our chains have had an increase in restaurant space. Hotpot restaurants are cool thanks to being equipped with new technology air conditioners and upgraded exhaust systems.
In particular, each restaurant has the characteristics of a chain and has its own distinctive features of decorative walls, facades, check-in points…. Thanks to that, customers always have a new experience.“, said Mr. Hoang Quoc Khanh.
Regarding service, Golden Gate maintains the mission of “Happy employees, satisfied customers” so that every customer who comes to eat is a pleasant service experience.
Digital transformation will also be the focus of the company’s strategy for the next three years: implementing software in effective restaurant operations management, always improving, implementing digital applications throughout the customer experience process. From ordering food, paying, reviewing service…
Lastly, Mr. Khanh said Golden Gate will invest heavily to apply technology to its internal management system to increase workforce productivity and optimize costs with the goal of achieving $1 billion in revenue in the near future. .
at Blogtuan.info – Source: Soha.vn – Read the original article here
