4FINGERS acquires Mex Out to boost Mad Mex's expansion in Singapore
Four Mad Mex stores will be in the island-nation by the first quarter of 2019.
4FINGERS Group has announced that they have acquired Mex Out, a Mexican food concept in Singapore, as part of their plan to expand Mad Mex in the island-nation.
The group will rebrand the four Mex Out stores into Mad Mex during the first quarter of 2019. They also mentioned that the acquisition will allow 4FINGERS to capitalise on menu innovation, shared services and other economies of scale.
“We are excited to be able to so quickly establish Mad Mex’s presence in Singapore, and are entering an exciting new phase. With Mad Mex’s strong brand and proven track record, we are very confident of its growth in the region,” Vijay Sethu, director of 4FINGERS, said.
The news comes after it was announced that 4FINGERS has bought a 50% stake on Mad Mex last September. Mad Mex aims to enter the Southeast Asian market, starting with Singapore and Malaysia.
Meanwhile, 4Fingers also expressed plan to expand with their US debut store slated to open in Los Angeles on 2019 and three more outlets in Australia.
(Also read: Mad Mex on partnering with 4FINGERS, and why they see “numerous” expansion opportunities in Asia)
