M&A Deal Summary

MTY Acquires Country Style Food Services

On May 1, 2009, MTY acquired franchising company Country Style Food Services from CAI Capital Partners

Acquisition Highlights
  • This is MTY’s 1st transaction in the Franchising sector.
  • This is MTY’s 9th transaction in Canada.
  • This is MTY’s 4th transaction in Ontario.

M&A Deal Summary

Date 2009-05-01
Target Country Style Food Services
Sector Franchising
Buyer(s) MTY
Sellers(s) CAI Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Stikeman Elliott (Legal)

Target

Country Style Food Services

Richmond Hill, Ontario, Canada
Country Style, headquartered in Richmond Hill, Ontario, is one of Canada's leading food franchisors. It has food service operations in the donut and coffee segment using the "Country Style" brand name and retail operations in the fresh bake bakery segment using the "Buns Master" brand name. CAI sold its position in Country Style to a strategic buyer.

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Buyer(S) 1

Buyer

MTY

St. Laurent, Quebec, Canada

Category Company
Founded 1979
Sector Food
Employees7,326
Revenue 1.2B CAD (2023)
DESCRIPTION

MTY is among the foremost quick service companies in Canada. It operates 26 banners, of which 22 are fully owned and 4 are under exclusive license agreements. MTY Group's multi-bannered strategy has allowed it to become a leader in its class. MTY was incorporated in 1979 and is based in Saint-Laurent, Canada.


DEAL STATS #
Overall 10 of 48
Sector (Franchising) 1 of 1
Type (Add-on Acquisition) 7 of 43
State (Ontario) 4 of 14
Country (Canada) 9 of 37
Year (2009) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-13 Country Style Food Services Holdings

Richmond Hill, Ontario, Canada

Country Style Food Services Holdings, Inc. is a quick service restaurant chain, which owns the intellectual property and franchising rights to the Country Style and BunsMaster operations. There are presently 114 Country Style traditional stores, and 360 Country Style non-traditional outlets, as well as 16 BunsMaster retail stores, all of which are franchised outlets with the exception of 4 company owned Country Style traditional stores.

Buy $17M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-16 Groupe Valentine

Saint-Hyacinthe, Quebec, Canada

Groupe Valentine, Inc. operates restaurants with 95 stores, 9 of which are corporate-owned, a widely recognized brand name in Quebec and a revitalized marketing strategy.

Buy $9M

Seller(S) 1

SELLER

CAI Capital Partners

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.6B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

CAI Capital Partners is a private equity firm that targets lower middle-market, profitable companies with $3 million or more of EBITDA. CAI Capital Partners has a special interest in founder-led business services or specialty manufacturing companies. CAI Capital Partners was formed in 1989 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 11 of 22
Sector (Franchising) 1 of 1
Type (Add-on Acquisition) 9 of 14
State (Ontario) 4 of 6
Country (Canada) 6 of 11
Year (2009) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-01 SafeGuard Health Enterprises

Los Angeles, California, United States

SafeGuard Health Enterprises, Inc. is a provider of dental benefits. It contracts with large and medium-sized governmental and private-sector employers to provide employees with managed care dental plans, indemnity dental plans, vision benefit plans, administrative services and preferred provider services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-22 Symetra Financial

Bellevue, Washington, United States

Symetra, based in Bellevue, Washington, is the former life insurance and investment division of Safeco Corp. Its services include life insurance, annuities, retirement plans and group medical plans. Symetra has more than two million customers, including 400,000 life insurance policy holders.

Sell -