MONTREAL — MTY Food Group’s acquisition spree isn’t slowing down. It’s wholly owned subsidiary, MTY Tiki Ming Enterprises Inc., announced it will pay $14.8 million to acquire the assets of the group of companies that owns and operates Café Dépôt, Sushi Man, Muffin Plus and Fabrika.
The 102 restaurants, including 90 franchised units and 12 corporately owned units, generated $42 million in system sales in 2013. The majority of the units are based in Quebec. “We are very proud to acquire this portfolio of brands, each of which enjoys strong brand recognition in the markets they serve” said Stanley Ma, CEO of MTY. “We expect that the 102 stores will be a good fit with MTY’s existing network. The combination of those strong brands with MTY’s expertise will create exciting synergies.”
The deal is expected to close prior to Oct. 15.