Restaurant chain operator Max’s Group Inc. said Monday it signed a deal to bring restaurant brand Sizzlin’ Steak to the United Arab Emirates.
Max’s Group said in a disclosure to the stock exchange it teamed up with Kasamar Holdings to build seven Sizzlin’ Steak outlets in UAE over the next five years.
“We are witnessing the emergence of Sizzlin’ Steak as a global mainstream brand. At the same time, we are pleased with our partnership with Kasamar Holdings to introduce our hot plate concept to the UAE,” said Max’s Group president and chief executive Robert Trota.
This marks the fourth development contract signed by Max’s Group for the year, adding to an active pipeline of more than 130 stores slated to operationalize in the coming years.
Kasamar Holdings is a family-led enterprise based in Abu Dhabi engaged in three principal investment verticals: private equity and venture, real estate and public securities. KH operates one of the largest private healthcare providers in the United Arab Emirates.
It also diversified interests in retail and medical equipment distribution. Kasamar Holdings plans to assemble a portfolio of acclaimed food brands that will primarily cater to the local market.
“We are excited to enter this space with one of the most reputable food and beverage names from the Philippines. We genuinely believe in the uniqueness and value proposition offered by Sizzlin Steak,” Kasamar Holdings director Mo Bississo.
“We look forward to launching our first shop in the UAE by early next year with the intent to accelerate rollout in the long-term. I am confident the brand will be positively received by the local community due to its mainstream appeal,” Bississo said.
Max’s Group currently operates 655 stores including 55 franchised outlets located across North America, the Middle East and parts of Asia.
The group aims to have at least 200 international stores by 2020.