MTY Food Group to acquire Quebec restaurant chain Casa Grecque

MONTREAL – MTY Food Group Inc. has signed a deal to buy Casa Grecque, a Quebec restaurant chain.

Under the deal, MTY says it expects to pay $19.5 million for the assets, plus about $3 million for the inventory at closing.

The Casa Grecque network has 31 franchised restaurants in operation.

MTY says the network generated over $45 million in system sales in 2017.

The assets being acquired also include a central kitchen and a distribution centre that service the restaurants as well as some external customers.

The deal, which is subject to multiple conditions, is expected to close by the end of the year.