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.
News from © Canadian Press Enterprises Inc. 2019