After entering into a CDN$ 248M deal with Montreal franchisor Imvescor, MTY is taking over the American chain Grabbagreen, strengthening its market position.
Groupe MTY continues its expansion in the United States with the acquisition of the Grabbagreen health food chain. The transaction is valued at US$ 2.75M and must be completed within 40 days.
Jeff Smith, COO of MTY’s US operations, said in a statement ” Grabbagreen is a young and trendy brand with solid growth potential. We are extremely happy to add this concept to our portfolio”.
Founded 5 years ago, Grabbagreen is a fast food chain that has distinguished itself by offering “semi-biological, preservative-free and GMO-free” foods. Its diverse menu also offers cereal, vegetable and hormone-free fresh bowls from local farms. The company currently operates 27 restaurants including 26 franchisees and 1 company, all located in the United States.
The company MTY intends to improve its financial health offer through this acquisition. In addition, the stock has increased by 11.6% over the past year.
Halin, « MTY avale Grabbagreen pour 3,46 M$ », Le Journal de Montréal. [En ligne]. Disponible sur: http://www.journaldemontreal.com/2018/02/19/mty-avale-grabbagreen-pour-346-m. [Consulté le: 01-mars-2018].
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« MTY Enters into an Agreement to Acquire the Assets of Grabbagreen », 19-févr-2018. [En ligne]. Disponible sur: http://news.morningstar.com/all/canada-news-wire/20180219C8686/mty-enters-into-an-agreement-to-acquire-the-assets-of-grabbagreen.aspx. [Consulté le: 01-mars-2018].
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