MONTREAL — Quebec-based Thai Zone is the latest company to be acquired by MTY, which is preparing to buy 80 per cent of the assets of the Thai concept for $17.8 million.
“We are excited to acquire such a young and dynamic brand. It will be a great addition to our portfolio and a solid contributor to our growth in the future,” said Stanley Ma, CEO of MTY.
“Thaï Zone has been growing at a fast pace in the past two years, and the success of its existing restaurants provides a solid foundation for future expansion.”
Thai Zone was established in 2007 and has 24 franchised stores plus five additional stores to be opened within the next few months. The concept has recently made an entry into retail grocery stores and is in the deployment phase.
Founders Pascal Leclerc and Marie-Christine Martel will stay on board to oversee the daily operations and the future development of the Thai Zone brand.