MONTREAL — Imvescor Restaurant Group Inc. (IRG) has successfully completed its acquisition of Ben & Florentine — a deal valued at approximately $17.7 million.
The acquisition, which was originally announced in December, will see key members of Ben & Florentine’s management team — including the brand’s founder and president, Lorne Cassoff — join IRG’s executive team and continue to lead the brand.
“I’m excited for the Ben & Florentine brand and could not be prouder of our franchisee partners,” says Cassoff. “I am confident that this new alliance with the Imvescor family will provide many new opportunities — both inside and outside of Quebec — for the Ben & Florentine business.”
“This transaction represents an excellent strategic fit for both companies, as Ben & Florentine complements our existing brands and consolidates our solid position in Québec,” adds Frank Hennessey, president and CEO of IRG. “In combination with the 62 Toujours Mikes locations that serve breakfast seven days a week, we are now the largest server of plated meals in the breakfast day part in Quebec.”