MONTREAL — MTY Food Group Inc. has announced that one of its subsidiaries has signed an agreement to acquire the assets of Küto Comptoir à Tartares.
Currently, the Küto network has 31 franchised restaurants in operation in Quebec, with 13 locations opened in the last year. On an annualized basis, the network’s system sales is between $20 and $25 million.
“Küto is a young, innovative brand that stands out for the quality of its products. It relies on a network of committed franchise partners who are just as dynamic,” says Eric Lefebvre, CEO of MTY. “Küto benefits from a loyal customer base who are passionate about high-end tartares and novelty menu items. It offers significant growth potential for the years to come.”
“I’m very proud to have built a strong, successful network, filled with potential and opportunities for growth,” says Jean-Michel Paquet, owner of Küto. “A network made up of proud, passionate and enthusiastic colleagues and franchise partners where human values are respected and where the pleasure of eating is the priority.”
The transaction is expected to be finalized in roughly 30 days.