MONTREAL — Foodtastic Inc. has received a $47-million investment from Restaurant Royalty Partners, a joint venture managed by Oaktree Capital Management L.P. and JHR Capital LLC.
As a result, Foodtastic will continue its organic-growth plan, which has seen 13 new restaurants open in 2018.
“Our partnership with Restaurant Royalty Partners marks an exciting next step in our company’s growth. This capital will accelerate Foodtastic’s strategy of acquiring brands with strong potential for growth,” says Peter Mammas, president and CEO of Foodstatic.
The Quebec-based franchisor of multiple restaurants concepts — including La Belle et La Boeuf, Carlos & Pepe’s, Souvlaki Bar, Nickels and Bacaro — plans to open 18 restaurants in 2019.
“Peter and his team at Foodtastic have a strong track record of value creation,” says Alex Taubman, SVP for Oaktree Capital Management L.P. “They have built a high-quality business and we look forward to partnering to support the next stage of the company’s growth.”