Max's Group acquires eMax's LLC and Global Max Services Pte. Ltd.

Max's Group Inc. (MGI) said its board approved the acquisition of eMax's LLC and Global Max Services Pte. Ltd.

 

"At a regular meeting of the Board of Directors of Max's Group Inc. held Jan. 22, the board approved the acquisition of all the membership interests and/or shares of stocks in" eMax's LLC and Global Max Services Pte. Ltd., the company said in a disclosure to the Philippine Stock Exchange.

 

MGI is acquiring Global Max Services Pte. Ltd. for $1,006,000.

 

"Such an acquisition will enable the company to benefit from certain cost and operational efficiencies," the disclosure read.

 

Global Max Services Pte. Ltd. is a duly registered entity in Singapore engaged in the business of management consultancy services.

 

The transaction will allow the company to consolidate support services for both local and international operations "translating to cost efficiencies and operational synergies."

 

On the other hand, Max's is acquiring eMax's LLC for $513,000.

 

"Such an acquisition will allow all shareholders of MGI to benefit from the expected growth of the Max’s restaurant business in North America, consistent with the company’s strategy and rationale for the integration," the company said.

 

eMax's LLC is a duly registered entity in Colorado, USA that is primarily engaged in granting franchises for the development and operation of restaurants under the Max's brand name within the North American territory.

 

It holds the franchise and intellectual property rights for Max's restaurants for North America.

 

eMax is currently held by certain principal shareholders of the company.

 

"This transaction will allow the company to consolidate all revenues generated from franchising operations of Max’s outlets in North America," the company said. – Kathryn Mae P. Tubadeza/VS, GMA News