Add-on Acquisition • Restaurants

Recipe Acquires Prime Restaurants

On October 17, 2011, Recipe acquired restaurant Prime Restaurants for 59M USD

Acquisition Context

This is Recipe’s 1st transaction in the Restaurants sector.
This is Recipe’s 3rd largest (disclosed) transaction.
This is Recipe’s 1st transaction in Canada.
This is Recipe’s 1st transaction in Ontario.

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M&A Deal Summary
Date	October 17, 2011
Target	Prime Restaurants
Sector	Restaurants
Buyer(s)	Recipe
Deal Type	Add-on Acquisition
Deal Value	59M USD

Target Company

Prime Restaurants

Mississauga, Ontario, Canada

Prime Restaurants Inc. ("Prime") franchises, owns and operates casual dining restaurant brands and premium Irish pubs in Canada. Prime has a number of competitive strengths that have helped the company maintain a leadership position in the Canadian casual dining industry.

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Buyer Overview 1

Buyer

Recipe

Vaughan, Ontario, Canada

Category	Company
Founded	1883
Sector	Restaurants
Employees	17,500
Revenue	865M CAD (2020)

DESCRIPTION

Recipe is a provider of full service restaurants. Recipe was founded in 1883 and is based in Vaughan, Vaughan.

Deal Context for Buyer	#
Overall	1 of 8
Sector: Restaurants	1 of 8
Type: Add-on Acquisition	1 of 5
State: Ontario	1 of 6
Country: Canada	1 of 8
Year: 2011	1 of 1
Size (of disclosed)	3 of 3

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2014-12-22	The Landing Group Oakville, Ontario, Canada The Landing Group is a Southern Ontario based, high-volume, upscale casual restaurant concept. Its business includes lunch, dinner and late night and the restaurants have an exciting bar-restaurant atmosphere with unique indoor/outdoor configurations. There are currently three market-leading restaurants in the Landing Group; Williams Landing, which is located at Liberty Village in Toronto, Hunters Landing, which is located at Concord CityPlace, Toronto, and Harpers Landing, which is located in Oakville, Ontario.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2014-12-22

The Landing Group

Oakville, Ontario, Canada

The Landing Group is a Southern Ontario based, high-volume, upscale casual restaurant concept. Its business includes lunch, dinner and late night and the restaurants have an exciting bar-restaurant atmosphere with unique indoor/outdoor configurations. There are currently three market-leading restaurants in the Landing Group; Williams Landing, which is located at Liberty Village in Toronto, Hunters Landing, which is located at Concord CityPlace, Toronto, and Harpers Landing, which is located in Oakville, Ontario.

Buy

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