Montreal-based MTY Food Group Inc. plans to add the 490-outlet Country Style Food Services Holdings Inc. operation to its roster of more than 1,000 franchised restaurants, picking up the tab in cash.
The value of Monday’s proposed deal was not disclosed, but MTY said the Country Style quick-service chain had $94 million in system-wide sales in the past year.
Country Style operates 114 Country Style traditional coffee-doughnut-and-sandwich shops, 360 Country Style kiosks and 16 BunsMaster outlets. All but four of these locations are franchised.
With the proposed acquisition of Country Style, expected to close May 1, MTY said it will “strengthen its position and foothold in the Ontario quick-service franchise industry and launches itself as a major player in the coffee and sandwich segment.”
MTY has two dozen franchise brands, including Cultures, Thai Express, Veggirama, TacoTime and Vanelli’s, and said it will aim for annual sales of $435 million after the takeover of Country Style, which has been in business since the early 1960s.
