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May 3, 2019updated 07 May 2019 5:22pm

MTY Food to buy Allô! Mon Coco

MTY Food Group has agreed to acquire the assets of Allô! Mon Coco, a chain of gourmet breakfast and lunch restaurants. 

MTY Food Group has agreed to acquire the assets of Allô! Mon Coco, a chain of gourmet breakfast and lunch restaurants.

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Both companies did not disclose the transaction’s financial terms. MTY said it will finance the deal using its cash on hand and existing credit facilities.

Currently, the Allô! Mon Coco network has 39 franchised restaurants in operation, with 38 of these in the province of Quebec and one in the Province of Ontario.

The network has generated around $57m in system sales in the past 12 months.

The deal includes the Allo! Mon Coco trademark for the world except the US. Under the agreement, MTY will obtain a right of first refusal if the owners of the trademark for the US decide to sell it.

Allô! Mon Coco’s existing president Tom Bountis will be with MTY for about 12 months.

“Allô! Mon Coco has had great success in the past and it has a great potential for further growth in the future.”

MTY CEO Eric Lefebvre said: “MTY is very excited to have the opportunity to add another young, dynamic and distinctive breakfast chain to its portfolio. Allô! Mon Coco has had great success in the past and it has a great potential for further growth in the future.”

MTY expects to close the transaction within the next 45 days subject to various customary conditions.

In April 2019, MTY had agreed to acquire Papa Murphy’s, a franchisor and operator of the largest Take ‘n’ Bake pizza brand in the US, for around $190m.

Papa Murphy’s was founded in 1981. It operates more than 1,400 franchised and corporate-owned stores in 37 US states, Canada, and the UAE.

Earlier this year, MTY Food Group acquired substantially most of the assets of South Street Burger, which has 24 franchised restaurants and 13 corporate restaurants in operation.

MTY Group franchises and operates quick-service and casual dining restaurants under around 75 different banners in Canada, the US and internationally.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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