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M&A Deal Summary

Fairfax Acquires Recipe

On September 1, 2022, Fairfax acquired restaurant Recipe for 1.2B CAD

Acquisition Highlights
  • This is Fairfax’s 1st transaction in the Restaurants sector.
  • This is Fairfax’s 4th largest (disclosed) transaction.
  • This is Fairfax’s 3rd transaction in Canada.
  • This is Fairfax’s 3rd transaction in Ontario.

M&A Deal Summary
Date 2022-09-01
Target Recipe
Sector Restaurants
Buyer(s) Fairfax
Deal Type Add-on Acquisition
Deal Value 1.2B CAD

Target

Recipe

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

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Buyer(S) 1

Buyer

Fairfax

Toronto, Ontario, Canada
Category Company
Founded 1951
Sector Insurance
Employees15,891
Revenue 28.4B USD (2024)
DESCRIPTION

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Fairfax’s corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value. Fairfax was founded in 1951 and is based in Toronto, Ontario.

DEAL STATS #
Overall 12 of 14
Sector: Restaurants M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 10
State: Ontario M&A 3 of 3
Country: Canada M&A 3 of 4
Year: 2022 M&A 1 of 2
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-20 Crum & Forster

Morristown, New Jersey, United States

Crum & Forster provides specialty and standard commercial lines insurance products through company admitted and surplus lines insurance companies. The group is a founding member of the North American Pet Health Insurance Association (NAPHIA). Pethealth Inc. offers pet services through two brands 24Pet and VioVet. 24Pet are the experts in lost pet solutions, pet adoptions, animal welfare, and shelter support. A family of platforms, services, products, and people, obsessed with pets. From connecting them with loving families to protecting and helping keep them happy, healthy, and home. VioVet is a UK-registered veterinary online pet retailer that offers a variety of pet and horse supplies, including prescription and non-prescription medications, supplements, food, toys, and more. Crum & Forster was formed in 1896 and is based in Morristown, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Atlas

Vancouver, British Columbia, Canada

Atlas is an asset manager that owns and operates the businesses in which it invests while focusing on deploying capital across multiple verticals. Atlas' wholly-owned subsidiaries, Seaspan and APR is an integrated platform in the global maritime and energy space respectively. Atlas was founded in 2019 and is based in Vancouver, British Columbia.

Buy $10.9B
Mergr

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