The Joint Venture with Cachet Hospitality Will Open First Three Restaurants in China
Wahlburgers, the burger restaurant brand founded by Chef Paul Wahlberg and celebrity brothers Mark and Donnie Wahlberg, will expand to Asia in 2017 through a joint venture with Cachet Hospitality Group (CHG). The first three restaurants are slated to open in Hangzhou, Wuhan, and Shanghai, China.
The Cachet Hospitality Group is an international hospitality branding and management company based in Hong Kong. CEO Alexander Mirza said, “This is an excellent time to enter the Asia market, especially China, where dramatic growth in US-style destination malls with increasing space committed to restaurants as mall owners see both traffic and income rise dramatically.”
“We’re excited about this wonderful opportunity to grow in Asia,” said Wahlburgers CEO Rick Vanzura. “Having a savvy, financially strong partner is essential and we have a great partner in the Cachet Hospitality Group, which will bring an unprecedented level of service and strength to the Wahlburgers brand. Cachet is dedicated to family, community and, of course, bringing diverse groups of people together through great food – the very same values that drive Wahlburgers. Thanks to Cachet, we already have our first confirmed restaurant projects outside of North America, and we look forward to making history together.”
“This combines perfectly with the explosive popularity of international restaurant brands in China’s malls and airports, opening the door to tremendous opportunity for Wahlburgers and our Asia Pacific joint venture,” added Mirza.
World Packaging Center, an existing CHG developer, agreed to sign the first restaurant in Hangzhou. Shanghai-based naked Hub has agreed to open 20 Wahlburgers in their office building complexes throughout Shanghai and Hong Kong. Thailand’s Big Ho Corporation will open 20 Wahlburgers in its franchise location of Big C Supercentre stores throughout northern Thailand.
A third partner, the Arjomand Group, a holding company with businesses based in the Middle East and Africa regions, is an investor in CHG and will add financial expertise and strength to the expansion plans.
The expansion targets to open 100 restaurants in China and the surrounding region over the next five years.