Author Topic: MTY - MTY Food Group  (Read 29290 times)

mranski

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Re: MTY - MTY Food Group
« Reply #30 on: June 26, 2016, 01:59:01 PM »
Strange lawsuit I believe regarding kahala family owners.  Not sure what their involvement will be with MTY going forward.

http://business.financialpost.com/news/fp-street/yogen-fruzs-serruya-family-sued-by-co-founders-brother-in-law-for-insider-trading


notorious546

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Re: MTY - MTY Food Group
« Reply #31 on: June 27, 2016, 06:47:30 AM »
Strange lawsuit I believe regarding kahala family owners.  Not sure what their involvement will be with MTY going forward.

http://business.financialpost.com/news/fp-street/yogen-fruzs-serruya-family-sued-by-co-founders-brother-in-law-for-insider-trading

thanks mranski

notorious546

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Re: MTY - MTY Food Group
« Reply #32 on: July 22, 2016, 06:26:06 AM »
SCOTTSDALE, Ariz., July 21, 2016 /PRNewswire/ -- Kahala Brands, Ltd.™ ("Kahala Brands") (OTC:KAHL) (www.KahalaBrands.com) announced that the proposed merger with a wholly-owned subsidiary of MTY Food Group, Inc., was approved by the company's shareholders during a special shareholder meeting today.


gary17

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Re: MTY - MTY Food Group
« Reply #33 on: August 23, 2016, 11:28:09 AM »
Does anyone know why the stock has gone up 5% today? I can't find any associated news -  if this is market volatility then great lol

notorious546

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Re: MTY - MTY Food Group
« Reply #34 on: September 09, 2016, 11:05:52 AM »
MTY enters into an agreement to acquire Baja Fresh Mexican Grill and La Salsa Fresh Mexican Grill
Friday, September 09, 2016 10:30:00 AM (GMT)

TSX Trading Symbol: "MTY"

MONTREAL, Sept. 9, 2016 /PRNewswire/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY) announced today that one of its wholly-owned subsidiaries has signed an agreement to acquire all of the equity interest of BF Acquisition Holdings, LLC. ("BFAH") (www.bajafresh.com and www.lasalsa.com).

Stanley Ma, Chairman of the Board and Chief Executive Officer of MTY, said: "Following the addition of Kahala last month, MTY intends to continue and accelerate its growth throughout North America, leveraging both its US platforms and Canadian platforms to acquire profitable restaurant concepts.  The acquisition of Baja Fresh Mexican Grill and La Salsa Fresh Mexican Grill perfectly aligns with our growth strategy and is one more step towards building a bigger and better organization for the future."

Transaction and rationale

BFAH currently franchises and operates 162 Baja Fresh Mexican Grill ("Baja") and 23 La Salsa Fresh Mexican Grill ("La Salsa") restaurants in the USA, Dubai and Singapore. Of those 185 restaurants, 16 are corporately-owned and 169 are franchised. During 2015, the BFAH network generated over US$145 million in system sales.

The acquisition of Baja and La Salsa represents another major milestone for MTY as it solidifies its presence in the United States and confirms MTY's appetite for good quality acquisition opportunities regardless of the geographical location of their restaurants.

Following the transaction, BFAH's head office will be moved in MTY's office in Scottsdale, Arizona. The transition is expected to happen before the end of MTY's 2016 fiscal period.

Conditions and regulatory approvals

The agreement is binding but remains subject to multiple conditions, including standard regulatory approvals, financing and other conditions customary for a transaction of this nature.

Financing

Total consideration for the transaction is estimated at US$27 million in cash, to be financed using MTY's existing credit facilities. The final purchase price remains subject to customary working capital adjustments.

Closing of the transaction

The closing of the transaction is expected to happen within the next 30 days. There is no assurance the transaction will be completed as described above or at all, or that the anticipated closing date will materialize.

Non‑IFRS Measures


notorious546

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Re: MTY - MTY Food Group
« Reply #36 on: September 16, 2016, 01:11:46 PM »
Was doing a bit of work into la salsa. not entirely sure how this compares to other franchises but the investment to open one doesnt seem too high.

Qualifications
$200,000 liquid cash per restaurant, $500,000 net worth per restaurant
Restaurant experience or an operating partner with at least 10% ownership, who has restaurant experience
Franchise Fee: $50,000 per restaurant
Royalty Fee: 5%
Franchise Agreement: 10 years

http://lasalsa.com/franchise/

notorious546

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Re: MTY - MTY Food Group
« Reply #37 on: October 12, 2016, 02:45:42 PM »
MTY announced acquisition of Kahala Brands

http://mtygroup.com/wp-content/uploads/2015/06/20160525-MTY-enters-into-an-agreement-to-acquire-the-shares-of-Kahala-Brands-v7.pdf

Quote
During the 12 months following the acquisition, the combined entity is expected to generate over C$90 million in EBITDA,
C$250 million in revenues and C$2 billion in system sales. The transaction is expected to be immediately accretive. The
combined entity will have a portfolio of approximately 5,500 stores under 57 brands

Quote
Total consideration for the transaction is estimated at US$300 million, satisfied by the issuance of 2,253,930 shares of MTY and
the payment of US$240 million in cash. The final purchase price remains subject to customary working capital adjustments. The
cash component of the consideration will be financed by MTY’s cash on hand and by the new credit facility that is presently being
arranged. TD Securities will act as the sole Lead Arranger and Bookrunner for a syndicate of lenders. The new credit facility is
expected to provide enough flexibility for MTY to complete additional acquisitions in respect of future opportunities that might
become available to MTY and continue to pay and adjust its dividend in accordance with its dividend policy.

On July 25th, 2016, the Company completed the acquisition of Kahala Brands Ltd. for an estimated total consideration of $389 million.

- i think this number is quoted higher cause the shares moved up in value or working capital adjustments. Can anyone confirm?
-

KCLarkin

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Re: MTY - MTY Food Group
« Reply #38 on: October 12, 2016, 05:07:15 PM »
On July 25th, 2016, the Company completed the acquisition of Kahala Brands Ltd. for an estimated total consideration of $389 million.

- i think this number is quoted higher cause the shares moved up in value or working capital adjustments. Can anyone confirm?
-

Mostly currency translation, I assume. Acquisition was in USD. I assume the $389 million is CAD.
http://mtygroup.com/wp-content/uploads/2016/07/20160726-MTY-Acquisition-of-Kahala-Brands-EN-corrected.pdf