Mon 21st Jul 2025 - JKS sells its stake in Bao London to Singaporean hospitality group JKS sells its stake in Bao London to Singaporean hospitality group: JKS Restaurants has sold its stake in Bao London to The Lo & Behold Group (TLBG), a Singaporean hospitality group. TLBG has acquired JKS’ position in the company and will support Bao in its next phase of growth. Founded by Shing Tat Chung, Erchen Chang, and Wai Ting Chung, Bao began as a street food stall in east London’s Netil Market. Since partnering with JKS in 2015, the group has won several accolades and has grown to include seven restaurants across the capital, including the newest addition to the family: Bao City, the group’s restaurant and karaoke flagship. Founded by Teng Wen Wee in 2005 with the mission to “make cities more lovable through its thought-leading, intentionally curated concepts”, TLBG’s portfolio includes three Michelin-starred French restaurant Odette and award-winning brands The Warehouse Hotel and Tanjong Beach Club. This new partnership represents TLBG’s first foray out of Singapore. Bao co-founder and chief executive Shing Tat Chung said: “Bao’s success is thanks to the belief that Jyotin, Karam and Sunaina [Sethi at JKS] placed in us. Our partnership took us from a humble street-food stall to opening seven restaurants together, and we’ve learned so much from their relentless drive for excellence. As we look ahead to the next ten years, we’re thrilled to partner with TLBG – looking forward to the energy and vision it’ll bring to our journey. Together, we embark on an exhilarating new chapter, one that will carry Bao, fuelled by our shared passion for creativity and innovation, into an exciting new era.” Jyotin Sethi said: “It’s been an incredible journey partnering with Shing, Erchen and Wai Ting over the past decade. Helping them grow Bao from a Netil Market street food stall, where we first met them, into one of London’s most exciting restaurant businesses has been an adventure and a true privilege. Their story reflects what we strive for at JKS – discovering exceptional talent and working together to create something special. The Bao founders have always shared our passion for innovation, integrity, and excellence, and we’re immensely proud of what we’ve achieved together. We wish the team every success as they embark on this exciting new chapter.” Wen Wee said: “We’ve long admired how Bao turns deeply personal stories into wildly original, boundary pushing restaurants. Shing, Erchen, and Wai Ting have built something rare, a brand that is both uncompromisingly creative and commercially resonant. At TLBG, we’ve always believed in partnering founders with a point of view and the courage to express it. We’re honoured to join Bao on this next chapter, and together, we hope to continue surprising and delighting audiences across borders.” JKS features in the Propel Turnover & Profits Blue Book, which is available exclusively to Premium subscribers and features 1,138 companies. JKS’ turnover of £73,658,364 for the 65 weeks to 31 March 2024 is the 164th highest in the database. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.