Food and beverage (F&B) and hospitality company Katrina Group 1A0 has announced that its wholly-owned subsidiary Katrina Holdings has signed a master territory agreement with DailyBeer Korea to operate Daily Chicken restaurants across Singapore.
In November, Katrina and DailyBeer announced a joint venture to operate a chain of “Daily Beer” Korean fried chicken and craft beer restaurants in Singapore.
Katrina says the latest collaboration with DailyBeer to operate the Daily Chicken restaurants will deepen its relationship with DailyBeer and aims to leverage their combined network, experience and expertise to enhance service offering and customer experience.
Established in 2014, DailyBeer operates Korean fried chicken and craft beer chain restaurants under the Daily Beer brand. With over nine years of experience in the food and beverages industry, DailyBeer has opened approximately 370 stores across Korea, including both directly managed stores and franchise stores.
Under the Daily Chicken agreement, the first Daily Chicken restaurant is slated to open by mid-2024, with further plans to open at least four additional restaurants by 2028.
To uphold the high food quality and taste of the menu items, Katrina Holdings will implement quality control measures throughout the food preparation process, from sourcing ingredients, the delivery of final F&B products and providing comprehensive training for all staff. Additionally, quality checks, market development and the introduction of new menu items will be reviewed biannually.
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CEO Alan Goh says: “We are excited about the opportunity to lead Daily Chicken’s growth in Singapore. The synergies from this collaboration will add value to our shareholders as we continue to carry out a series of food and beverages rebranding exercises to rejuvenate our F&B brands.
“While we work towards the grand opening of Daily Chicken by mid-2024, we plan to extend Daily Chicken’s offerings through our delivery services platform. We will also continue to explore further synergies, as well as to enhance service offerings and customer experience,” he adds.
Shares in Katrina closed unchanged at 2.6 cents on Dec 26.
