Cara Acquires St-Hubert for $537M

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VAUGHAN, Ont. — Months after its acquisition of New York Fries, Cara Operations Ltd. has added another restaurant chain to its roster with the acquisition of St-Hubert Group.

St-Hubert Group owns 120 rotisserie restaurants in Quebec, Ontario and New Brunswick, as well as St-Hubert Retail, an agrifood division that produces and distributes food products in Canada. “The two companies share similar management philosophy and fundamental values,” says Jean-Pierre Léger, chairman and CEO of St-Hubert Group. “This alliance, which will ensure St-Hubert Group’s sound development, opens up excellent future prospects for our employees. It also provides them with more career opportunities by creating jobs in Quebec, since it will enable us to carry out major expansions of our food manufacturing facilities and sales throughout Canada.”

“For Cara, this is also an opportunity to solidify a more significant presence in Quebec. Today, we are very proud to be associated with this Quebec jewel and our desire is to propel its growth and influence,” says Bill Gregson, Chair of the Board and CEO of Cara Operations. Cara currently operates only six per cent of its total locations in Quebec, including Harvey’s, East Side Mario’s, Casey’s, Bier Markt and New York Fries. The deal will also fuel the expansion of St-Hubert’s retail food segment.

The St-Hubert management team will continue to oversee operations, while maintaining its head office in Quebec. The transaction is targeted to close this summer.

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