NEW YORK, Nov. 12, 2010 (GLOBE NEWSWIRE) -- Bros Holding Company (Pink Sheets:BSHG), a Shanghai based media publisher, has entered into a letter of intent with a Hong Kong based Investment Group. Funds will allow management to develop their business model.
Definitive plans with the Investment firm will be announced before the Chinese New Year.
Pledged funds will allow Bros Holding Company to operate as a joint-stock Company and "roll in" 11 established Japanese restaurants under the leading flagship brand "Hezuomei". Based on operations of their premier restaurant location in the resort town of Suzhou, the company feels confident that the restaurants will be accretive to earnings within the first 6 months of operation.
Liming Peng, CEO stated, "We are firmly established as a cutting edge Media Company catering to the Japanese/Chinese establishment. By rolling in a restaurant/hospitality division, we feel that we are able to create a premium brand that caters to both cultural groups while being beneficial to our bottom line."
Funds from the Investment Group will be used to "roll in" 11 targeted restaurants and establish 24 new Japanese restaurants chains in the Shanghai and the Yangtze River delta from 2011 to 2013. Future plans also include a Japanese catering group chain that will be established by the end of 2013.
Funding is also allotted to allow Bros to establish a high-end Japanese cuisine hotel management/ training technical school, creating a supply of professional servers, executive chefs, and cuisine researcher from a logistic base of Bros Catering Group. The school will train up 200-500 qualified trainees as service of talents for its company per year, meanwhile, dispatch professional personnel to Japanese catering companies in Shanghai and Yangtze River delta.
About Bros Holding Company
Located in Shanghai, Bros Holding Company provides consumer entertainment and information media to Japanese speakers in Asia. The Company focuses on catering to Japanese travelers and expats that reside in China. Through its five publications, the company has a consumer base of affluent and niche consumers. For more information, please visit www.bros-web.com
Legal Disclaimer
The statements contained in this press release contain certain forward looking statements, including statements regarding the company's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company's management.