Leading Chinese hot pot restaurant chain Haidilao completed the acquisitions of Hanshe Chinese Restaurant and Hao Noodles on September 4, the company said in a statement.
Haidilao spent 120 million yuan (US$ 18 million) on 80 percent of Hanshe’s stake and US$3.04 million on Hao Noodle’s.
Hanshe is a Chinese cuisine brand established in 2008 by Zhu Rong, who also opened Hao Noodle 2016. It has nine restaurants in Shanghai, Beijing, and Hangzhou. Hao Noodle owns two restaurants in New York.
Haidilao said the acquisitions will further boost its plan to enter the fine-dining market. Taking over Hao Noodles will help Haidilao to gain more experience in the overseas market, the company said.
