TORONTO — Fairfax Financial is increasing its influence in the restaurant industry, becoming a partner with The McEwan Group.
It’s been nearly two years since the Toronto-based investment firm became a major player in the restaurant industry when it helped Cara Operations’ acquire Prime Restaurants and purchased a majority stake in The Keg Restaurants. Now, it’s focused on injecting capital into the rapidly expanding McEwan Group. Chef Mark McEwan has grown his group of fine-dining restaurants and upscale grocery stores in recent months with a new 5,500 square-foot grocery store in the TD Centre.
“We are pleased to be joined by Fairfax. In a short period of time, they have come to have a significant investment in the Canadian restaurant industry. I look forward to continuing to operate The McEwan Group for the long term with Fairfax as partner,” said McEwan.
“Mark is a very highly regarded chef in Canada that was introduced to us by our partner, Nick Perpick, previously at Prime Restaurants and Cara Operations,” said Paul Rivett, president of Fairfax. “Mark has created and grown his company, The McEwan Group, and the McEwan brand with an entrepreneurial focus we look for in all of our partners. We are excited to be Mark’s partner in The McEwan Group and Mark has also committed to providing us with expertise that will be beneficial to all of our restaurant investments in the future.”
The group did not specify how much Fairfax is spending on the partnership.