Pancake House to be renamed Max’s Group
MANILA, Philippines – Pancake House Inc. will soon be renamed Max’s Group Inc., the company announced Wednesday, July 23.
Pancake House’s board approved the change in its name and the amendment of its articles of incorporation to reflect the change, the group said in a disclosure to the Philippine Stock Exchange (PSE).
Also, the trading symbol of the company on the PSE will be changed to MAXS, pending the approval of the stockholders and the Securities and Exchange Commission (SEC), Pancake House said.
The Max’s Group completed the purchase of listed Pancake House from the Lorenzo group for P3.5 billion ($80.94 million) in February.
Then this July, Pancake House announced that it was acquiring 20 firms under the Max’s Group of Companies through a share-swap deal worth P4.05 billion ($93.6 million) to create the country’s largest casual dining restaurant chain.
The combined entity now includes 14 brands: 4 from Max’s and 10 from Pancake House.
The Max’s brands include Max’s Restaurant, Max’s Corner Bakery, Krispy Kreme, and Jamba Juice.
The Pancake House brands include its flagship store Pancake House, Yellow Cab, Le Coeur De France, Dencio’s, Teriyaki Boy, Singkit, Sizzling Pepper Steak, Kabisera, the Chicken Rice Shop, and Maple.
The group will now own a nationwide network of about 500 outlets and 25 stores overseas. - Rappler.com