VAUGHAN, ON, Sept. 27, 2021 /CNW/ - Recipe Unlimited
Corporation ("Recipe") announced on June 14,
2021 that it entered into a definitive agreement to sell
substantially all of the assets comprising its Milestones
restaurant brand ("Milestones") to Quebec-based Foodtastic Inc.
("Foodtastic").
Today, Recipe is pleased to announce the transaction
successfully closed on September 26,
2021.
About Recipe
Founded in 1883, RECIPE Unlimited Corporation is Canada's largest full-service restaurant
company. The Company franchises and/or operates some of the most
recognized brands in the country including Swiss Chalet, Harvey's,
St-Hubert, The Keg, Montana's, Kelseys, East Side Mario's, New
York Fries, Prime Pubs, Bier Markt, The Landing Group, Original
Joe's, State & Main, Elephant & Castle, The Burger's
Priest, The Pickle Barrel, Marigolds & Onions, Fresh and
Ultimate Kitchens.
RECIPE's iconic brands have established the organization as a
nationally recognized franchisor of choice. As at June 27,
2021, Recipe had 25 brands and 1,327 restaurants, 82% of which are
operated by franchisees and joint venture partners, operating in 11
countries (Canada, USA, Bahrain,
China, India, Macao,
Oman, Panama, Qatar, Saudi
Arabia and the UAE). RECIPE's shares trade on the Toronto
Stock Exchange under the ticker symbol RECP. More information about
the Company is available at www.recipeunlimited.com.
About Foodtastic
Foodtastic is the franchisor of multiple restaurant concepts
including Second Cup, Au Coq, La Belle et La Boeuf, Monza, Carlos
& Pepe's, Souvlaki Bar, Nickels, Rotisseries Benny, Chocolato,
Big Rig and Bacaro. Foodtastic is a leader in the restaurant
franchising business, and with the recent purchases of Milestones
and Pita Pit, the system will have over 600 restaurants
and $600 million in annualized sales.
SOURCE Recipe Unlimited Corp.