Cara Operations Limited has acquired 100% of Groupe St-Hubert Inc, Québec's leading full-service restaurant operator as well as a fully-integrated food manufacturer, for $537 million on a cash-free, debt-free basis. The transaction has closed on September 2, 2016.
The acquisition of St-Hubert adds a major iconic brand to Cara's portfolio. Management believes the acquisition presents several compelling strategic benefits, including an iconic brand, which is ranked the #1 full service restaurant operator in Québec and #4 in Canada, based on sales. St-Hubert generated approximately $620 million in System Sales, including the food operations division, and approximately $44.8 million in Operating EBITDA.
Groupe St-Hubert was advised in this transaction by Fasken Martineau with a team led by Robert Paré, and Marie Josée Neveu, including by Lénie Tessier-Beaulieu (M&A), Matthew Quadrini (M&A), Alain Ranger (Tax), Pierre-Olivier Charlebois and Delphine Pittet (Environment), Jean-Philippe Mikus and Sarah P. Lavoie (Intellectual property), Huy Do and Grant LoPatriello (antitrust/competition) and Marc Novello (Banking & finance).
