MONTREAL — MTY Food Group Inc. announced one of its wholly owned subsidiaries has signed an agreement to acquire the assets of the Yuzu Sushi restaurant chain.
The Yuzu Sushi network currently has 68 restaurant franchises, 30 franchised express counters and 34 complementary grocery outlets. The chain operates mainly in Quebec and has a presence in New Brunswick. System sales totalled more than $40 million in the fiscal year ended December 31, 2018.
“Yuzu Sushi is a young and dynamic brand with a network of committed franchise partners that are just as dynamic,” says Eric Lefebvre, CEO of MTY. “Yuzu Sushi has a customer base that is passionate about gourmet sushi and new products and offers significant growth potential for future years.”
The transaction should be finalized within the next 45 days, but remains subject to several customary conditions for a transaction of this nature.
Steve Morency and Frédéric Matte, current owners of Yuzu Sushi, will remain at the helm of the brand, which will also retain its head office in Quebec City.