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November 1, 2018updated 19 Jul 2022 7:47am

MTY Food to buy restaurant chain Casa Grecque in Canada

Canadian franchisor and quick-service restaurant operator MTY Food Group’s subsidiary has agreed to purchase the majority of bring-your-own-wine restaurant chain Casa Grecque's assets.

Canadian franchisor and quick-service restaurant operator MTY Food Group’s subsidiary has agreed to purchase the majority of bring-your-own-wine restaurant chain Casa Grecque’s assets.

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The transaction value is expected to be at approximately $19.5m along with a projected $3m of inventory value. MTY Food will finance the total consideration for the transaction through cash on hand and existing credit facilities.

Assets covered under the deal include a central kitchen, a distribution centre and some external customers.

“The deal will strengthen MTY Food’s presence in casual dining, as well as complement the current offering in the bring-your-own-wine restaurant category.”

Based in Canada, Casa Grecque currently operates 31 franchised restaurants across Quebec. The company reported more than $45m in system sales last year.

According to the company, the deal will strengthen MTY Food’s presence in casual dining, as well as complement the current offering in the bring-your-own-wine restaurant category.

The transaction is currently subject to several customary conditions and is expected to close before the end of this year.

Following the completion of the transaction, MTY Food will operate the Casa Grecque business from its current headquarters in Laval, Quebec.

Last month, the MTY Food Group agreed to purchase the assets of the sweetFrog Premium Frozen Yogurt franchise system for $35m.

Based in the US, sweetFrog currently operates 254 franchised locations and 78 corporate-owned locations globally. It offers soft-serve frozen yogurt, ice cream, gelato and sorbets.

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How is technology having an impact on Consumer buying behavior?

As the world rapidly becomes more connected, it is important for brands to understand the impact that improved technology is having on consumer purchasing behaviors. To react effectively, brands must know how to engage with increasingly digitally savvy consumers. GlobalData’s latest Trend Tracker report provides an analysis of Digital Lifestyles – one of GlobalData's top consumer trends for 2022. The report includes an overview of how digital lifestyles are evolving, including the significant impact that the COVID-19 pandemic had on accelerating digitalization, and how this trend is emerging across different Consumer sectors. Key features included in the report:
  • A breakdown of the trend’s prominence across sectors
  • Insights into consumer online penetration, preferred electronic devices and engagement
  • The key drivers and challenges impacting the digital lifestyles trend
  • A spotlight on key innovations set to reshape the consumer landscape
  • Analysis of what’s next for digital innovations and how brands can leverage the trend
Download this report to keep in touch with the more digital consumer.
by GlobalData
Enter your details here to receive your free Report.

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