Hong Kong’s popular Tam Chai Yunnan Noodle chain is set to be acquired by Japanese restaurant group Toridoll, the latter announced on Monday.
Tam Chai is known for its spicy rice noodles offered in some 40 outlets across the city at a budget price.
According to a statement on its website, Tokyo-listed Toridoll will acquire 100 per cent of Jointed-Heart Catering Holdings Limited and New Huge Corporation Limited. The former operates the Tam Chai chain, while the latter is responsible for developing the restaurants’ soup base.
“Tam Chai Yunnan Noodle is a popular restaurant among young people in Hong Kong, having experienced significant growth in recent years,” wrote Toridoll. “It has experience and know-how in shop management in Hong Kong.”
Established in 1996, Tam Chai Yunnan Noodle is currently operated by Tam Chuk-kwan, the fifth brother in his family.
Differences within the Tam family led to the third brother’s establishment of a rival chain – Tam Jai Sam Gor Mixian – in 2008.
Toridoll’s statement did not stipulate the price of the acquisition, but Japanese paper Nikkei speculated that the transaction could be worth JPY 15 billion (HK$1 billion). The statement added that an agreement between the parties will be signed as soon as Tuesday.
Restaurant group Toridoll is known for operating the Marugame Seimen udon chain in Japan.