MONTREAL — MTY Food Group Inc.’s announced acquisition of BF Acquisition Holdings, LLC. (BFAH) is now complete. MTY paid a total of US$27 million in cash at closing, financed through its existing credit facilities, for full equity interest.
At the time of closing, BFHA operated 160 Baja Fresh Mexican Grill and 23 La Salsa Fresh Mexican Grill restaurants, with annual system sales of approximately US$145 million. Of the 183 restaurants, 16 are corporately owned and 167 are franchised.
BFAH’s head office will be relocated to MTY’s Scottsdale, Ariz. office within the next 30 days.