Foodtastic continues its acquisition spree
Quebec restaurant franchisor Foodtastic continues its recent acquisition spree with the purchase of Pita Pit Canada and Pita Pit International.
The deal, announced today, will result in Foodtastic taking over the Ontario-born, 26-year-old QSR chain’s 225 Canadian restaurants and 135 international locations. The company plans to grow the brand locally and abroad by adding more than 50 locations over the next three years.
Foodtastic, established in 2016, operates more than 20 restaurant brands, including rotisserie Au Coq, ice cream bar Chocolato, and Big Rig kitchen and brewery.
Once known primarily in Quebec, Foodtastic acquired coffee chain Second Cup from Aegis Brands in February – a platform that gives it national reach and exposure – followed by Montreal-born plant-based chain Copper Branch in May. Most recently in June, it acquired Milestones from Recipe Unlimited and plans to introduce the brand to the Quebec market.
The Pita Pit acquisition will bring Foodtastic’s store count to around 600 restaurants.
Quebec’s Legault Group takes over Ren’s Pets, its first purchase outside the province
Legault Group, a Quebec-based family business that owns the Mondou chain of pet stores, added Ren’s Pets to its portfolio.
The deal, Legault’s first outside of Quebec, will make the company a leader in the Canadian pet retail market. Currently, Mondou has 74 stores in Quebec, while Ren’s Pets just opened its 35th location last month. Headquartered in Ontario, Ren’s plans to open another three stores before the end of the year.
Both businesses are said to have gained from the recent spike in pet ownership and demand initiated by the pandemic.
In a release, Legault Group CEO Martin Deschênes said the transaction falls within the company’s plans to expand its presence in Canada through “acquisitions and partnerships focused on innovation.”
The company noted that Ren’s Pets will retain its current leadership team and brand.
Alimentation Couche-Tard to acquire network of stores in Atlantic Canada
Another Quebec-based company that’s growing through acquisition is Alimentation Couche-Tard. The convenience and fuel retail company will acquire Cape D’Or Holdings Limited, Barrington Terminals Limited and other related holding companies, giving it ownership of a network in the Atlantic provinces whose portfolio includes the Esso, Wilsons Gas Stops and Go! Store brands.
The deal includes 79 corporate-owned and operated convenience retail and fuel locations, as well as 147 dealer locations (of which two are corporately owned). It is expected to close during the first half of next year following regulatory approvals.
In a release, Couche-Tard president and CEO Brian Hannasch said the acquisition will allow the company to continue to build on its expansion strategy. “We are committed to purchasing strong sites with capabilities both inside the stores and on the forecourts to further our organic growth platforms and showcase Couche-Tard’s industry leading commitment to innovation and customer service,” he said.
Couche-Tard has more than 14,200 convenience and fuel retail stores in 26 countries and territories, making it the largest independent convenience store operator.
