TL;DR
MTY Food Group Inc. is acquiring the Grabbagreen franchise system for nearly $3 million, expanding its restaurant portfolio. The deal is expected to close in the next 45 days.
The Grabbagreen franchise system is currently being acquired by MTY Food Group Inc. According to a recent article from QSR Magazine , the 27 unit chain is being purchased for nearly $3 million just five years after it launched. The deal is expected to close in the next 45 days.
MYT Food Group Inc. COO, Jef Smit, said, “Grabbagreen is a young and trendy brand with solid growth potential. We are extremely happy to add this concept to our portfolio."
While primarily based in Canada, the company's Scottsdale, Arizona headquarters will serve as the center of operations for Grabbagreen. The brand is not the alone in the company's restaurant portfolio. Currently, MYT Food Group owns a series of brands ranging from Cold Stone Creamery to Inkberry.
Grabbagreen entered the franchise industry in 2015, and currently all but one location are franchised. The brand has averaged about two new openings a month, with further development deals in the pipeline.
In this story
This story was originally published in 1851 Franchise on February 21, 2018. Burnaze summarizes and links to the original reporting.
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