M&A Deal Summary

MTY Acquires Cultures International Food

On October 7, 2002, MTY acquired food company Cultures International Food

Acquisition Highlights
  • This is MTY’s 1st transaction in the Food sector.
  • This is MTY’s 1st transaction in Canada.
  • This is MTY’s 1st transaction in Quebec.

M&A Deal Summary
Date 2002-10-07
Target Cultures International Food
Sector Food
Buyer(s) MTY
Deal Type Add-on Acquisition

Target

Cultures International Food

Saint Laurent, Quebec, Canada
Cultures International Food, Inc. produces and sells frozen breakfasts, snack foods, and pastas. Company presently has 26 existing Cultures’ franchises outlets in Ontario, for the retail sale of gourmet coffees, soups, sandwiches, salads, baked goods, fresh healthy food and juices, etc.

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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 1 of 48
Sector (Food) 1 of 5
Type (Add-on Acquisition) 1 of 43
State (Quebec) 1 of 19
Country (Canada) 1 of 37
Year (2002) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-14 Thai Express Pte

Singapore, Singapore

Thai Express (S) Pte, Ltd. operates a chain of restaurants in Australia, China, Indonesia, New Zealand, Malaysia, Singapore, and Mongolia. Most of the outlets are food court unit, with huge future growth potential, which will enhance MTY’s existing line of quick service restaurant business.

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