MTY Food Group, Imvescor Restaurant Group to create leading North American restaurant franchisor
The partnership will create a multi-brand industry leader with a portfolio of over 5,700 stores under 75 brands.
MTY Food Group Inc., Canada, and Imvescor Restaurant Group Inc., also based in Canada, entered into a definitive combination agreement under which a wholly owned subsidiary of MTY will acquire all outstanding Imvescor common shares to create a multi-brand industry leader with a portfolio of over 5,700 stores under 75 brands and approximately $2.9 billion in system sales.
"Joining forces with MTY creates an opportunity for Imvescor shareholders to realize immediate value and participate in a faster pace of growth with less risk,” says François-Xavier Seigneur, chairman of the board of directors of Imvescor. “Today’s transaction fully recognizes the value of our portfolio of restaurant brands and rewards investors for their patience, as we have successfully executed our turnaround strategy. We urge shareholders to join us as owners of a stronger, more diversified company with an established track record of value creation and an exciting future ahead.”