Max’s Group Inc., the country’s leading casual dining restaurant chain, is set to open five Yellow Cab Pizza outlets in Singapore as a part of an overseas expansion.
Max’s Group said in a disclosure to the stock exchange it signed a development agreement with Pagh Pte. Ltd. to build 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,” said Max’s Group president and chief executive Robert Trota.
This is the fourth development agreement inked by Max’s Group in 2016, which will bring the total international stores to 116 over the next few years. It is also the third agreement involving Yellow Cab.
Max’s Group signed a deal with ZhongFa Group in January this year to build at least 15 Yellow Cab Pizza stores in China, particularly in Beijing, Tianjin and parts of Hebei Province, within the next five years.
The restaurant chain sealed a development agreement with Changsha New Yorker Catering Management Co. Ltd. last week to build at least 10 Yellow Cab Pizza stores in Hunan Province over the next five years.
“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 said.
Pagh Pte. Ltd. is a family-owned company set up primarily to invest in the casual dining business.
Yellow Cab currently operates a network of 135 branches including six franchised outlets located in Qatar and one in the United Arab Emirates. Plans are ongoing to open its flagship store in Beijing and Changsha as well as a pilot branch in Hawaii.
Max’s Group said it was confident with the strategies in place to anchor its growth in the coming years.
“Backed by a positive macroeconomic environment coupled with some lift from election spending, Max’s Group is poised to build its presence and solidify its position as the country’s leading full-service chained casual dining operator,” the company said.