Core Viewpoint - Jiumaojiu Group plans to acquire a 49% stake in North American hot pot chain Big Way Hot Pot for a total transaction amount of $43 million, aiming to expand its presence in the North American market [1][2][5]. Group 1: Acquisition Details - The acquisition will cost approximately 3.01 billion RMB and will make Jiumaojiu the largest shareholder of Big Way, which operates 21 restaurants in Vancouver, Toronto, and California [1][2][4]. - Big Way's projected after-tax profits for 2023 and 2024 are $210,100 and $983,900, respectively, with an estimated market valuation of $76.89 million [4]. - Jiumaojiu previously acquired a 10% stake in Big Way in July 2025, and the acquisition is expected to be finalized by March 31, 2026 [4][5]. Group 2: Strategic Rationale - The acquisition aligns with Jiumaojiu's strategy to explore overseas opportunities for Chinese cuisine, building on the success of its brand "Tai Er" in Southeast Asia and North America [5][7]. - Jiumaojiu aims to leverage Big Way's established business foundation in North America to enhance its operational management and brand network, potentially leading to increased store numbers and revenue [5][6]. Group 3: Market Context - The North American market for Chinese cuisine is still in its early stages, with Jiumaojiu recognizing the growth potential in this sector [7][10]. - Other Chinese hot pot brands, such as Haidilao and Liu Yishou, have already established a presence in North America, indicating a competitive landscape [8][10]. - Jiumaojiu's approach differs from the mainstream direct or franchise models adopted by other brands, providing a new strategy for Chinese restaurants entering overseas markets [6][10].
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