JIA Group chairman Yenn Wong has resigned from her post at one of the top restaurant groups in Hong Kong, selling 60.53% of the company’s shares to mainland Chinese catering companies Changsha Aojiao Hot Catering Service (長沙傲椒火辣餐飲服) and Tianxiangfu Catering (天湘府餐飲) for more than RMB¥54 million.
According to a report by Ming Pao, JIA Group sold 702 million shares to the two companies. It is thought that the intention for the acquisition by Changsha Aojiao Hot Catering Service is that JIA Group will continue to operate business in its current status, whilst exploring other opportunities in Hong Kong and regionally.
After the completion of the transaction, all but JIA Group’s current executive director and company secretary will remain in office. Yenn Wong will resign, joining other positions on the board of directors.
On Jan. 25, Yahoo News Hong Kong reported that JIA Group will also change its Chinese name from 佳民集團, meaning “home”, to XinXiang Era Group Company Limited, translating roughly to “new era of enjoyment corporation”.
JIA Group manages a list of award-winning restaurants in Hong Kong, including MONO, Andō, Louise, 22 Ships, Duddell’s, Mak Mak, and the newly opened Leela. The restaurant group was founded by Yenn Wong in 2004.