MTY Food Group has announced that its wholly-owned subsidiary MTY Tiki Ming Enterprises has entered into a binding agreement to purchase all of the issued shares of Country Style Food Services Holdings from certain private arm’s length vendors.
According to MTY Food Group, the closing is scheduled for May 1, 2009, subject to the completion of certain conditions.
With the acquisition of Country Style, the company expects to strengthen its position in the Ontario quick service franchise industry.
This acquisition will further add to MTY’s portfolio diversity with targeted 12 months system-wide sales of over $435m, with over 1,500 total outlets and 25 banners in operation.
