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MTY Food Group Inc T.MTY

Alternate Symbol(s):  MTYFF

MTY Food Group Inc. is a Canada-based franchisor and operator of multiple restaurant concepts worldwide. The Company franchises and operates quick-service, fast casual and casual dining restaurants under more than 90 different banners in Canada, the United States and Internationally. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The Company also operates distribution centers and food processing plants, all of which are located in the province of Quebec. The Company operates through two segments: Canada, and US & International. The Company operates under various banners, including Tiki-Ming, Sukiyaki, La Cremiere, Panini Pizza Pasta, Villa Madina, Cultures, Thai Express, Vanellis, Kim Chi, TCBY, Sushi Shop, Koya Japan, Vie & Nam, Tutti Frutti, Taco Time, Country Style, Valentine, Jugo Juice, Mr. Sub, Koryo Korean Barbeque, Mr. Souvlaki, Sushi Go, Mucho Burrito, and others.


TSX:MTY - Post by User

Bullboard Posts
Post by TheRock07on May 26, 2016 7:21am
126 Views
Post# 24905688

MTY in the globe

MTY in the globe

 

Globe says MTY Food chows down on Kahala Brands

 

2016-05-26 06:43 ET - In the News

 

The Globe and Mail reports in its Thursday edition that MTY Food Group ($42.25) has struck a friendly $400-million deal to acquire Arizona-based Kahala Brands and its 2,800 fast-food locations in 25 countries (all figures Canadian unless otherwise stated). The Globe's Richard Blackwell and Bertrand Marotte write that the latest cash and share purchase by MTY is by far its largest. The deal effectively doubles the size of the Montreal-based company. It also represents a major expansion into the United States market. MTY, which was essentially debt free, will have to borrow to complete the transaction, but investors still appeared thrilled by the expansion. MTY shares rose more than 18 per cent in Toronto on Wednesday. The Kahala family of brands -- which includes Cold Stone Creamery, TacoTime and Blimpie submarines -- will be added to MTY's 2,700 restaurants in Canada and 14 other countries. Among MTY's 40 banners are Cultures, Thai Express, Country Style and Jugo Juice. MTY posted more than $1-billion in sales last year, while Kahala sales are in the $950-million range. MTY has agreed to pay $240-million (U.S.) in cash plus about 2.25 million MTY shares, valued at about $95-million at Wednesday's close

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