MANILA -- Max's Group said Wednesday it secured the Securities and Exchange Commission's approval to merge its two units that operate Krispy Kreme and Jamba Juice in the Philippines.
The Real American Doughnut Company will be the surviving entity when it merges with Fresh Healthy Juice Boosters, the restaurant operator told the stock exchange.
"The resulting transaction is aligned with on-going reorganization initiatives to maximize operational synergies across the business and does not adversely impact existing shareholders," Max's said.
Max's earlier merged its Teriyaki Boy and Yellow Cab businesses as part of an ongoing corporate reorganization.
source: news.abs-cbn.com
