Montreal-based M.T.Y. Food Group buys Mr. Sub for $23-million
Posted August 18, 2011 11:49 pm.
This article is more than 5 years old.
M.T.Y. Food Group has bought popular Canadian sandwich shop Mr. Sub.
According to the Montreal-based franchisor this is their largest acquisition to date.
The group purchased Mr. Submarine Limited for $23-million in cash and has bumped their network to include 2,070 restaurants.
Mr. Sub had been a privately owned company for 43-years. No word on if the purchase will mean changes to the fast-food chain.
This is the second purchase MTY has announced this week. The company said it will acquire restaurant chain Koryo Korean BBQ Franchise Corp. for $1.8 million in cash. Koryo has 20 mostly franchised restaurants in Alberta, British Columbia, Ontario, Quebec and Saskatchewan generating annual sales of more than $8 million.
M.T.Y. mostly own restaurants featured in food courts, such as Thai Express, Yogen Fruz and Vanelli’s. However, M.T.Y. also owns companies such as Country Style.
