MTY Completes Acquisition of Dagwoods Sandwiches and Salads


MONTREAL — MTY Food Group Inc. has completed the previously announced acquisition of the totality of the assets of Dagwoods Sandwiches and Salads.

Originally announced in June, the transaction is valued at approximately $3 million, of which $2.6 million was paid on closing, $0.3 million was retained as holdback on the transaction and $0.1 million in net liabilities were assumed.

Spiro Krallis, Dagwoods’ current president, will continue with MTY for a three-month period to ensure a smooth transition. Michel Lamontagne will be leading the Dagwoods operations following the closing of the transaction. MTY expects to move the Dagwoods’ operations to its headquarters in St-Laurent, Que.

At closing, the Dagwoods’ network operates 20 franchised restaurants and two corporately operated kiosks.

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