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Slide #37. MTY Food Group Inc. — Thai Zone
MTY Food Group Inc. (TSE:MTY.CA)
MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY) announced today that pursuant to the announcement made on August, 2013, its wholly-owned subsidiary MTY Tiki Ming Enterprises Inc. has completed the acquisition of 80% of the assets of 9199-0465 Qubec Inc. and Alimentation ThaZone Inc. ("Tha Zone") (www.thaizone.ca), with the balance of the ownership remaining with the seven founders of Tha Zone. The total consideration for MTY's 80% share in the business was $17.7M and was paid from MTY'S cash on hand and available credit facilities. The transaction is effective September 30, 2013.
MTY Food Group is a franchisor engaged in the quick service food industry. Co.'s activities consist of franchising and operating quick service restaurants under the following banners: Tiki Ming, Sukiyaki, La Cremiere, Caferama, Au Vieux Duluth Express, Carrefour Oriental, Panini Pizza Pasta, Chick 'N' Chick, Franx Supreme, Croissant Plus, Villa Madina, Cultures, Thai Express, Mrs. Vanelli's, Kim Chi, "TCBY", Yogen Früz, Sushi Shop, Koya Japan, Vie & Nam, Tandori, O'Burger, Tutti Frutti, Taco Time, Country Style, Bunsmaster and Valentine. As of Nov 30 2010, Co. had 1,727 stores in operation, of which 1,701 stores were franchised and 26 stores were operated by Co.
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