MONTREAL — A wholly-owned subsidiary of MTY Food Group Inc. has signed an agreement to acquire the assets of the Grabbagreen franchise system for an estimated US$2.75 million.
Grabbagreen is a fast-food restaurant concept that boasts 27 locations (26 franchised) in the U.S. The chain focuses on healthy menu items, including semi-organic, preservative-free and GMO-free options. Its whole food menu is based on super food ingredients and offers a selection of grain and green-based bowls with fresh hormone- and antibiotic-free chicken and beef, as well as fresh-pressed juice, smoothies, acai bowls and breakfast.
“Grabbagreen is a young and trendy brand with solid growth potential,” says Jeff Smit, COO of MTY’s U.S. operations. “We are extremely happy to add this concept to our portfolio.”
Following the closing of the transaction, MTY expects to consolidate the corporate operations and run the franchising platform from its U.S. headquarters in Scottsdale, Ariz. The transaction is expected to close within 43 days, but remains subject to customary closing conditions.