VAUGHAN, Ont. — Cara Operations Ltd., a full-service restaurant brand, just announced plans to acquire Prime Restaurants Inc., owner of premium Irish pubs and casual-dining restaurant brands such as Casey’s and East Side Mario’s.
The $58.9-million deal will increase Cara’s market share and boost the number of Cara-owned restaurants from 673 to about 830.“Cara is the restaurant family that brings Canadians together. In Prime we see a company that, like us at Cara, puts the guest experience first,” said Don Robinson, Cara president and CEO. “We believe Cara’s significant scale and expertise will allow us to contribute to the future success of the brands that Prime operates and collectively take all of our brands to the next level.”
Following the acquisition, Cara, operator of Canadian-operated brands — Swiss Chalet Rotisserie and Grill, Harvey’s, Milestones Grill and Bar, Montana’s Cookhouse and Kelsey’s — will be positioned as the third-largest restaurant operator in the country.
The acquisition is expected to close in January.
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