MAX’S Group Inc. is exporting its flagship brand to the United States (US), signing another development deal within a five-year window to expand its global footprint.
It recently signed a development agreement with De Borja Inc. to build at least three Max’s Restaurant in San Diego, California.
This is the fifth overseas development deal the company has forged after the agreements to develop Max’s Restaurant in the US, build at least eight Pancake House stores in the United Arab Emirates (UAE), roll out at least 10 outlets of Yellow Cab Pizza also in the UAE, and establish at least 10 Sizzlin’ Steak stores in Vietnam. All the deals span five-year period towards 2020.
“We are excited to extend our footprint in North America through our partnership with De Borja Inc., a diversified group with a long track record of business excellence. It is our pleasure to serve the citizens of San Diego, including our countrymen based overseas, a taste of home,” MGI President and Chief Executive Officer Robert F. Trota said in a statement on Thursday.
“We are happy to seal a new market as we conclude the year,” he added.
De Borja Inc. is a family-owned group that operates multiple businesses in various industries, including restaurants, retail and wholesale. It works with the government sector, including high schools, colleges, vendors, collaborations, and overseas projects.
“We are honored to be in partnership with Max’s Group, Inc. and ecstatic to spread the standards, tradition and experience set by its founders in San Diego. Our extensive research has determined that the people of San Diego have been clamoring for a Max’s Restaurant,” Managing Director Krystle De Borja said in the same statement.
As of end-September, the MGI has opened 31 stores and has been operating a total of 547 outlets in the Philippines and abroad.
The company is looking at opening 70 to 80 stores valued at P700 million to P800 million in terms of yearly capital expenditures in the next five years.
Earlier, MGI Chief Financial Officer Dave Fuentebella said the group plans to raise the share of international operations, and is “actively exploring opportunities in Asia” for its brand Teriyaki Boy.
In terms of its operations abroad, he said that only Max’s Restaurant will cater mostly to where there is a huge concentration of Filipinos. The other brands will be “marketed as mainstream and foreign brands . . . where there is a concentration of disposable income.”