Travel & Entertainment M&A » By The Online Investor Staff, updated Thu., Aug. 13, 1:06 PM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #39. MTY Food Group Inc. — Extreme Pita, PurBlendz and Mucho Burrito
Acquirer:
MTY Food Group Inc. (TSE:MTY.CA)
Acquiree:
Extreme Pita, PurBlendz and Mucho Burrito
Details:
MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY) announced today that pursuant to the announcement made on May 28, 2013, its wholly-owned subsidiary MTY Tiki Ming Enterprises Inc. has completed the acquisition of the assets of Extreme Pita, PurBlendz and Mucho Burrito ("Extreme Brandz") www.extremebrandz.com for a consideration of $45 million, to be paid from MTY's cash on hand. The transaction is effective September 24th, 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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