On December 12, 2017, MTY Food Group Inc. (“MTY”) (TSX:MTY) and Imvescor Restaurant Group Inc. (“Imvescor”) (TSX: IRG) announced that they had entered into a definitive combination agreement under which a wholly owned subsidiary of MTY will acquire all of the outstanding Imvescor common shares for $4.10 per Imvescor share, representing a total consideration of approximately $248 million, subject to customary closing conditions including receipt of regulatory and Imvescor shareholder approvals.
MTY is a Canadian public company headquartered in Montreal, Quebec, that franchises and operates restaurants worldwide under multiple banners. Imvescor is a franchise and licensing business in the family and casual dining restaurant industry that operates restaurants in Eastern Canada under five banners. The combination of MTY and Imvescor will 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 with significant runway for growth.
Fasken advised MTY Food Group Inc. on this transaction with a team led by Neil Kravitz that included Robert Paré, Jessica Catton Rinaldi and Janie Harbec (M&A), Frédéric Harvey and Ryan Rabinovitch (Tax) and Huy A. Do and Justine Reisler (Competition).
