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Slide #82. MTY Food Group Inc. — Mr. Souvlaki Ltd.
MTY Food Group Inc. (TSE:MTY.CA)
Mr. Souvlaki Ltd.
MTY Food Group Inc. announced that pursuant to the binding agreement announced on July 26, 2012, its wholly-owned subsidiary MTY Tiki Ming Enterprises Inc. has completed the acquisition of most of the assets of Mr. Souvlaki Ltd. ("Mr Souvlaki") for a consideration to be paid from MTY's cash on hand. Since 1997, Mr Souvlaki (www.mrsouvlaki.ca) has provided its customers with a healthy and affordable Greek menu that has become a customer favorite. The chain operates 14 franchised stores in mall locations, 13 of which are located in Ontario and 1 in British Columbia. The franchise system has generated approximately $4.5 million in sales during its most recent completed fiscal year.
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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