SUMMARY
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MANILA, Philippines – Local restaurant chain operator of Max’s Restaurant will build at least 3 more branches in San Diego, California, US.
Max’s Group, Incorporated told the Philippine Stock Exchange (PSE) on Thursday, December 3 that it will expand its presence in the US in the next 5 years.
This was after the chain operator signed a development agreement with De Borja, Incorporated for the construction of more than 3 Max’s Restaurant branches in San Diego.
“We are excited to extend our footprint in North America through our partnership with De Borja Incorporated, a diversified group with a long track record of business excellence,” Max’s President and CEO Robert Trota said in the PSE disclosure.
“It is our pleasure to serve the citizens of San Diego including our countrymen based overseas a taste of home,” Trota added.
This marks the 5th development agreement signed by Max’s Group this year.
“We are happy to seal a new market as we conclude the year,” Trota said.
Max’s Restaurant operates a network of 171 branches, including 19 franchised stores abroad.
The local restaurant chain operator had said that it plans to open 70-80 stores in 2016, in line with its target to have 1,000 stores by 2020. (READ: Max’s Group to open 200 overseas stores by 2020)
Max’s Restaurant is already operating in several cities in the US, Canada, and the United Arab Emirates.
For the first 9 months of the year, Max’s Group booked a net income of P313.12 million ($6.65 million), a turnaround from a loss of P31.36 million ($665,681.94) for the same period last year.
Max’s Group also carries brands such as Yellow Cab, Pancake House, Jamba Juice, Krispy Kreme, Teriyaki Boy, Dencio’s, Le Coeur De France, Maple, Kabisera, and Sizzlin’ Steak. – Rappler.com
$1 = P47.16
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