Yellow Cab to open 15 stores in China
MANILA, Philippines – Restaurant operator Max’s Group plans to build at least 15 Yellow Cab Pizza stores in China within the next 5 years.
“We are thrilled with the opportunity of bringing our pizza to Beijing, Tianjin and parts of Hebei province. We share the excitement with our partner, the ZhongFa Group, to serve our food offerings to the Chinese,” Max’s Group president and chief executive officer Robert F. Trota told the Philippine Stock Exchange on Monday, January 11.
This is the first deal for Max’s Group this year.
In 2015, the restaurant chain finalized 5 new partnerships with various international partners involving the rollout of 15 Yellow Cab stores in Saudi Arabia within 10 years, 10 Yellow Cab and right Pancake House restaurants in United Arab Emirates within 5 years,10 Sizzlin’ Steak outlets in Vietnam within 5 years, and 3 Max’s Restaurants in San Diego, California, over the next 5 years.
At present Yellow Cab has a network of 118 branches including 6 franchised outlets located in Qatar.
For 2016, Maxs Group plans to open 70-80 stores, 60-65 of which are in the Philippines while 15-20 stores are overseas. (READ: Max's Group to open 200 overseas stores by 2020)
Established in 1993, China’s ZhongFa Group is into commercial real estate, electronic business and hotel management, with operations spanning across China, Philippine, Kenya, Palau, Switzerland and soon in Canada.
ZhongFa will venture into F&B business in China through its latest company JuYangYiTong.
“We believe the food and beverage industry in China has huge potential. With our newly established company JuYangYiTong, led by one of the ZhongFa family members Mike Zhang, we plan to satisfy Chinese customers’ growing needs of high quality food and beverage products. We are delighted to choose Yellow Cab Pizza as our first venture with MGI Group. Yellow Cab Pizza has everything that China’s discering customers are looking for – quality, service and ambiance.” remarked ZhongFa Group CEO Guiping Wang. – Rappler.com