MONTREAL — MTY Food Group Inc., recently announced that its wholly-owned subsidiary, MTY Tiki Ming Enterprises Inc., is set to acquire Koryo Korean BBQ Franchise Corporation’s assets.
Koryo operates 20 stores throughout Canada, generating annual sales of more than $8 million. According to MTY, the acquisition is expected to strengthen the company’s Korean food operations by complementing its Kim Chi Korean food banner and expanding its presence in food courts.Once the transaction closes on or before Sept. 30, Jin Lee, the president of Koryo, will join MTY to help further expand his company.
