Business
MTY Enters into an Agreement to Acquire the Assets of Grabbagreen
MTY Enters into an Agreement to Acquire the Assets of Grabbagreen Canada NewsWire ...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n\n\n\nMTY Enters into an Agreement to Acquire the Assets of Grabbagreen\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Feb. 19, 2018\n\n\n\nMONTREAL, Feb. 19, 2018 /CNW Telbec/ - MTY Food Group Inc. (\"MTY\" or the \"Company\") (TSX: MTY) announced today that one of its wholly-owned subsidiaries has signed an agreement to acquire the assets of the Grabbagreen® franchise system (www.Grabbagreen.com), for an estimated consideration of USD $2.75 million. \n\nThere are currently 27 Grabbagreen restaurants in operation, 26 franchised and 1 corporate, all of which are located in the United States.  \n\n\"Grabbagreen is a young and trendy brand with solid growth potential\" said Jeff Smit, COO of MTY's U.S. operations.  \"We are extremely happy to add this concept to our portfolio.\"\n\nThe transaction is expected to close within 45 days of this News Release but remains subject to multiple conditions customary for a transaction of this nature.  There is no assurance the transaction will be completed as described above, or at all, or that the anticipated closing date will materialize.\n\nFollowing the closing of the transaction, MTY™ expects to consolidate the corporate operations and run the franchising platform from its U.S. headquarters in Scottsdale, Arizona. \n\nAbout Grabbagreen\n\nFounded in 2013, Grabbagreen is a fast food restaurant concept where great tasting, healthy food meets the speed and convenience of traditional fast food. Grabbagreen's Eat Clean™ menu focuses on semi-organic, preservative-free, and GMO-free options. The whole food menu is based on super food ingredients and offers a full selection of grain and green-based bowls with fresh hormone-free and antibiotic-free chicken and beef provided by local farms, fresh-pressed juice, handcrafted smoothies and acai bowls, breakfast, and healthy kid-friendly items. All signature menu items are made-to-order and provide a delicious experience for customers and a variety of flavors to meet dietary needs. \n\nForward Looking Information\n\nCertain...