Corporate News

Yellow Cab Pizza eyes bigger slice of the Middle East market

Posted on November 08, 2016

MAX’S GROUP, Inc. (MGI) is looking to expand further in the Middle East, as it signed a deal to open more Yellow Cab Pizza stores in three countries.

In a disclosure to the stock exchange, MGI said it recently inked a development agreement with Qatar-based franchise operator Silver Group to open at least 22 Yellow Cab Pizza stores in Kuwait, Bahrain and Omar within the next five years starting January 2017.

MGI President and Chief Executive Officer Robert F. Trota said the company’s international business has aggressively expanded with Yellow Cab Pizza emerging as “the most coveted brand.”

“Silver Group pioneered our pizza offerings in this territory. We appreciate their continued trust and for sharing our vision of Yellow Cab Pizza as a global mainstream brand. Together, we are confident of replicating our earlier success in Qatar into surrounding nations,” Mr. Trota was quoted as saying in the statement.

Silver Group, a Doha-based leading hospitality company, already operates seven Yellow Cab franchise stores in Qatar.

“Silver Group greatly values the partnership and mutual success. Therefore, it was one of our great achievements to have an agreement with MGI to operate Yellow Cab in Kuwait, Bahrain and Oman as we believe on the brand potential in these markets after the achieved results in Qatar. It is our commitment to deliver the best possible customer experience and great quality Pizza in Gulf region,” Silver Group Chief Executive Officer Abdulrahman Al-Kaabi said.

Yellow Cab Pizza, which offers New York-style pizza and pasta dishes, currently has 145 branches, including in Qatar, United Arab Emirates and China. There are plans to open stores in Singapore, Hawaii, Jordan and Egypt.

The development agreement between MGI and Silver Group is seventh overseas franchise contract forged by MGI for 2016.

MGI is aggressively opening new stores in order to ramp up its recurring income base. The listed casual dining operator reported a 3% increase in net income to P380.56 million in the first nine months of the year from P367.86 million during the same period in 2015.

During the third quarter alone, MGI opened flagship stores for Yellow Cab Pizza in Beijing and Changsha Province in China as well as Sizzlin’ Steak in Vietnam. -- Danica M. Uy