Business
MTY Food Group Inc. completes the acquisition of Grabbagreen
MTY Food Group Inc. completes the acquisition of Grabbagreen Canada NewsWire MON...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n\n\n\nMTY Food Group Inc. completes the acquisition 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, March 16, 2018\n\n\n\nMONTREAL, March 16, 2018 /CNW Telbec/ - MTY Food Group Inc. (\"MTY\" or the \"Company\") (TSX: MTY) announced today that pursuant to the announcement made on February 19, 2018, one of its wholly-owned subsidiaries has acquired the assets of the Grabbagreen® franchise system (www.Grabbagreen.com). \n\nThe total consideration for the transaction is approximately US$2.675 million, subject to customary post-closing adjustments. A total of approximately US$2.4 million was paid on closing, financed from MTY's cash on hand.\n\nAt closing, Grabbagreen operates 26 franchised and one corporately-operated restaurant. \n\nMr. Jesse Schwarz, under the leadership of Jeff Smit, will be leading the brand's operations. MTY expects to consolidate the corporate operations and run the franchising platform from its U.S. headquarters in Scottsdale, Arizona.\n\nForward looking information\n\nCertain information in this News Release constitutes \"forward-looking\" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as \"anticipate\", \"estimate\", \"may\", \"will\", \"expect\", \"believe\", \"plan\" or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects current expectations and assumptions regarding future events and operating performance and speaks only as of the date of this News Release. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, le...