Sizzlin’ Steak, a casual dining restaurant chain under the Max’s Group Inc. (MGI), has gained a foothold in the United Arab Emirates (UAE), marking its debut in the Middle East region.
MGI has signed a partnership deal with a local group, Kasamar Holdings, to build seven Sizzlin’ Steak outlets in the UAE over the next five years.
“We are witnessing the emergence of Sizzlin’ Steak as a global mainstream brand. At the same time, we are pleased with our partnership with Kasamar Holdings to introduce our hot plate concept to the UAE,” MGI president and chief executive Robert Trota said in a disclosure to the Philippine Stock Exchange on Monday.
This is the fourth development contract signed by MGI for the year, adding to an active pipeline of more than 130 stores slated to open in the coming years.
This deal also marks the fourth brand that MGI is bringing to the UAE, an Arabian nation with a big overseas Filipino community. MGI’s flagship brand Max’s is also present in select locations in this territory while the group has also signed deals to bring in Pancake House and Yellow Cab.
Launched in 2007, Sizzlin’ Steak is a homegrown brand that pitches hot, fast and affordable steaks.
MGI’s local partner, Kasamar Holdings, is a family-led enterprise based in Abu Dhabi engaged in private equity and venture, real estate, and public securities. In addition, Kasamar Holdings operates one of the largest private healthcare providers in the UAE. It likewise has diversified interests in retail and medical equipment distribution.
Kasamar Holdings plans to assemble a portfolio of acclaimed food brands that will primarily cater to the local market.
“We are excited to enter this space with one of the most reputable food and beverage names from the Philippines. We genuinely believe in the uniqueness and value proposition offered by Sizzlin Steak. We look forward to launching our first shop in the UAE by early next year with the intent to accelerate rollout in the long-term. I am confident the brand will be positively received by the local community due to its mainstream appeal,” said Mo Bississo, director at Kasamar Holdings.
MGI currently operates 655 stores, including 55 franchised outlets abroad located across North America, Middle East and parts of Asia.