MAX’S Group, Inc. (MGI) is ramping up its overseas expansion with the signing of its sixth development agreement for 2017, which will see the opening of the first Max’s Restaurant in Washington state by next year.
In a statement issued on Tuesday, MGI said it has inked a deal with JS Restaurant LLC to open a Max’s Restaurant in Tukwila, a suburb south of Seattle in Washington.
“We are witnessing the fastest rate of expansion in North America. For this year alone, we opened three new Max’s Restaurants across New Jersey, Calgary, and San Diego. Moreover, we have another two stores in the pipeline for 2018 to be located in Winnipeg and Tukwila,” MGI Chief Executive Officer for International operations Peter H. King said in a statement.
MGI last week signed a deal with Canada’s Alibin Group, Inc. for the establishment of the first Max’s Restaurant in Winnipeg, Canada. This adds to the 27 Max’s franchised outlets abroad.
Established in 2012, JS Restaurant LLC is a private firm in Washington that offers medical services. MGI noted that owners of the company, who have been residing in Tukwila for two decades now, have established connections and alliances in the area that will help grow the branch.
“We are thankful to have been entrusted with a well-loved Filipino brand. We are determined to extend the Max’s Restaurant tradition of excellence in food quality and heartwarming service to our customers in Tukwila,” JS Restaurant Managing Director Joselito Santos said in a statement.
With its sizeable Filipino community, Tukwila already has branches of Jollibee and Chowking, as well as Seafood City, a supermarket selling Filipino and Asian products.
For his part, MGI President and Chief Executive Officer Robert F. Trota said the partnership gives them another chance to share the Max’s brand to Filipinos residing in the area.
“This is another exciting moment for us to provide our countrymen based in the United States a genuine taste of home. We are grateful to be in partnership with JS Restaurant LLC to serve our best-in-class products to the community of Tukwila,” Mr. Trota said.
Earlier this year, MGI said it has allotted P600 million to P700 million to roll out 60 to 70 new stores for 2017, in an effort to hit the 1000-store mark by 2020.
MGI recorded a 12% increase in its attributable profit for the first half of 2017 to P329 million, as store expansions pushed revenues 11% higher to P6.05 billion during the period.
Shares in MGI fell 24 centavos or 1.25% to P19 apiece at the Philippine Stock Exchange on Tuesday. — Arra B. Francia
