Max’s acquires Pancake House

The Max’s restaurant group is taking over a controlling stake in publicly listed casual dining restaurant operator Pancake House Inc. for as much as P3.9 billion

Pancake House Holdings Inc (PHHI), Pancake House’s principal shareholder, said it will exit 60.37% of its shares to Max’s. The Pancake House shares are priced at P 15.00 per share.