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Shake Shack Servin’ Up New South China Markets

06/30/2020

 New York’s Beloved Burger, Hot Dog and Frozen Custard Stand Expands in South China, Starting with 2021 Shenzhen Opening

NEW YORK--(BUSINESS WIRE)-- Hello Huanan! Shake Shack’s expansion plans in China are firing up. Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) and licensee Maxim’s Caterers Limited are proud to announce an expanded partnership, with plans to open a minimum of 15 Shacks in South China by 2030, including locations in Shenzhen, Guangzhou, Fuzhou and Xiamen.

Together, Shake Shack and Maxim's Caterers Limited plan to operate 55 Shacks in mainland China by 2030. Maxim’s currently operates Shake Shack locations in Shanghai and Hong Kong, with Beijing and Macau in development with goals to open later in 2020. As a well-respected and proven operator in Asia, Maxim's has more than 60 years of experience in the food, beverage and retail sectors, and its diversified operations include full-service and quick-service restaurants, bakeries and coffee shops.

“We remain humbled by our fans in China and continue to be encouraged by the performance of our Chinese business through this recovery. It’s a great time to deepen our roots in this market,” said Michael Kark, Chief Global Licensing Officer of Shake Shack. ”This is a significant step in our relationship with Maxim’s as we partner to achieve 55 Shacks across mainland China by 2030.”

“Maxim’s partnership with Shake Shack has taken the brand on an exciting journey to Hong Kong in 2018 and Shanghai in 2019, with Beijing and Macau on the horizon,” said Michael Wu, Chairman and Managing Director of Maxim's Caterers Limited. “We remain committed to our common core values of providing inspired food and drink and creating warm community gathering places, and we look forward to bringing our boundless hospitality to more guests across South China in 2021 with our new expansion plans.”

In keeping with its fine dining heritage and commitment to thoughtful ingredient sourcing, quality, and hospitality, the menu will feature Shake Shack’s signature items including the ShackBurger®, Shack-cago Dog®, crinkle-cut fries, beer, wine, lemonade and freshly spun frozencustard ice cream. Aligned with its mission to Stand for Something Good®,Shake Shack will also partner with local producers, purveyors and artists to reflect and support the communities.

About Shake Shack

Shake Shack is a modern day “roadside” burger stand known for its 100% all-natural Angus beef burgers, chicken sandwiches and flat-top Vienna beef dogs (no hormones or antibiotics - ever), spun-fresh frozen custard, crinkle cut fries, craft beer and wine and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. Shake Shack’s mission is to Stand for Something Good®, from its premium ingredients and caring hiring practices to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the company has expanded to more than 280 locations in 30 U.S. States and the District of Columbia, including more than 95 international locations across London, Hong Kong, Shanghai, Singapore, Philippines, Mexico, Istanbul, Dubai, Tokyo, Seoul and more.

Learn more: shakeshack.com | IG: @shakeshack | t: @shakeshack | facebook.com/shakeshack

About Maxim’s Caterers Limited

Founded in 1956, Maxim’s Caterers Limited (a company incorporated in Hong Kong) is a leading food and beverage company comprised of Chinese, Asian and Western restaurants, quick service restaurants, bakery shops, coffee shops, Japanese chain restaurants and institutional catering, while providing a range of festive products, including the award-winning HONG KONG MX Mooncakes. It is also the licensee of renowned brands including Starbucks Coffee, Genki Sushi and IPPUDO Ramen, The Cheesecake Factory and Shake Shack in various territories. Altogether, it has over 1,700 outlets in Hong Kong and Macau regions, Mainland China, Vietnam, Cambodia, Thailand, Singapore and Malaysia.

Media:
Shake Shack
Kristyn Clark
kclark@shakeshack.com
or
Investors:
ICR
Melissa Calandruccio CFA
Michelle Michalski
(844) SHACK04 (844-742-2504)
investor@shakeshack.com

Source: Shake Shack Inc.