Yellow Cab, Teriyaki Boy set to merge

The Max’s Group Inc. (MGI) is merging the Teriyaki Boy Group Inc. (TBGI) and Yellow Cab Food Corp. (YCFC).

Both are wholly-owned subsidiaries of MGI.

In a disclosure to the Philippine Stock Exchange MGI said the move is part of “continuing corporate reorganization activities to derive operational efficiencies.”

MGI said the merger would not cause any adverse impact to existing shareholders.

The Securities and Exchange Commission has already approved the merger.

In 2014, MGI bought out the minority shareholders of the company that owns Teriyaki Boy and Sizzlin Steak to gain full ownership of the brands.

MGI traces its heritage to the beginning of Max’s Restaurant in 1945. Today, the listed company is the largest operator in the Philippine casual dining segment. Its family of brands include Max’s Restaurant, Pancake House, Yellow Cab, Krispy Kreme, Jamba Juice, Max’s Corner Bakery, Teriyaki Boy, Dencio’s, Meranti, Le Coeur De France, Maple, Kabisera, Singkit and Sizzlin’ Steak.

The company has been expanding abroad by bringing its brands to various countries through partnerships.

Yellow Cab Pizza for instance operates a network of at least 150 branches including eight franchised outlets located in Qatar, two in United Arab Emirates, one in Saudi Arabia, two in China, one in Hawaii and one in Singapore.

Plans are underway to open flagship stores in Vietnam, Jordan, Kuwait, Bahrain, Egypt and Oman.