MAX’S Group Inc. (MGI) said it will open its Yellow Cab Pizza chain in Singapore this year, its first such venture for the brand in Southeast Asia.
In a disclosure to the Philippine Stock Exchange, the casual dining restaurant operator said it recently sealed a development agreement with Pagh Pte. Ltd. to open at least five Yellow Cab Pizza stores in Singapore.
“We are thrilled with the opportunity to bring Yellow Cab Pizza in a highly strategic market such as Singapore. We are confident that our mainstream offerings and value proposition will allow us to stay competitive alongside some of the biggest global food names,” Robert Trota, Max’s Group Inc. president and chief executive officer, said.
For the year, this undertaking is the firm’s fourth development agreement, translating to a total of 116 international stores set to open over the next few years.
MGI said it wants to operate a network of at least 200 outlets overseas by 2020.
“We found the right partner in Pagh Pte. Ltd. for this venture. We can rely on their focus and determination to deliver best quality products and genuine service to Singaporeans,” Trota added.
Pagh is a family-owned company set up primarily to invest in the casual dining business.
Just last week, MGI likewise announced it is expanding in the China market by putting up at least 10 Yellow Cab Pizza stores in Hunan Province over the next five years.
MGI signed a development agreement with Changsha New Yorker Catering Management Co., Ltd. for the China expansion.
Yellow Cab currently operates a network of 135 branches, including six franchised outlets located in Qatar and one in United Arab Emirates.
“Plans are ongoing to open its flagship store in Beijing and Changsha as well as a pilot branch in Hawaii,” MGI said.
For the year, the casual dining restaurant said it will roll out between 60 and 70 stores across all its brands (Yellow Cab Pizza, Pancake House, Sizzling’ Steak and Max’s Restaurant), of which about 15 to 20 stores will be overseas.