MONTREAL — MTY Food Group Inc. has signed an agreement to acquire 60 per cent of the assets of La Diperie via a newly formed subsidiary. Total consideration for MTY’s interest in La Diperie — which currently franchises five restaurants in Quebec and Ontario — is expected to be approximately $0.9 million.
“La Diperie is a young, trendy and dynamic ice-cream-dip concept,” says Stanley Ma, Chairman of the Board and CEO of MTY. “It represents a good addition to MTY’s portfolio of brands and has great expansion potential for the future.”
The transaction is expected to close within 10 days and remains subject to multiple conditions, including standard regulatory approvals and other conditions customary for a transaction of this nature. There is no assurance the transaction will be completed as described above or at all, or that the anticipated closing date will materialize.
Following the transaction, La Diperie’s team, including its founder Sam Arif, will move into MTY’s offices in Ville St-Laurent, Que.