TORONTO — Toronto-based Mercatto Hospitality Group has secured funding from CWB Financial Group to relocate its restaurant on Toronto Street — the company’s original location — to a bigger space on Wellington Street.
“Mercatto Restaurants is always looking for opportunities to expand and refresh existing locations,” notes Jack Scarangella, co-founder and partner of Mercatto Hospitality Group. “This development line allows us to be nimble when it comes to bidding on new sites or projects.”
Additionally, Scarangella says the brand is in talks with Cadillac Fairview — the Canadian commercial-real-estate giant — to open a sixth restaurant in Toronto.
“We are in negotiations with one of our current landlords, Cadillac Fairview, to do a restaurant in the second quarter of 2019,” says Scarangella. “It’s more in-line with some of our bigger restaurants. It’s similar to the Eaton Centre and our Bremner [Street] location.”
The Canadian restaurant brand, which launched in 1998, currently operates five restaurants in downtown Toronto. The 200-seat relocated restaurant will feature a 50-seat patio and private dining rooms. It will also allow the brand to centralize and establish a corporate headquarters in one location.
