M&A Deal Summary

MTY Acquires SweetFrog Premium Frozen Yogurt

On September 4, 2018, MTY acquired food company SweetFrog Premium Frozen Yogurt from Boxwood Partners for 35M USD

Acquisition Highlights
  • This is MTY’s 3rd transaction in the Food sector.
  • This is MTY’s 7th largest (disclosed) transaction.
  • This is MTY’s 7th transaction in the United States.
  • This is MTY’s 3rd transaction in Arizona.

M&A Deal Summary

Date 2018-09-04
Target SweetFrog Premium Frozen Yogurt
Sector Food
Buyer(s) MTY
Sellers(s) Boxwood Partners
Deal Type Add-on Acquisition
Deal Value 35M USD

Target

SweetFrog Premium Frozen Yogurt

Scottsdale, Arizona, United States
SweetFrog Premium Frozen Yogurt is a producer of frozen yogurt flavors and fresh toppings choices. SweetFrog Premium Frozen Yogurt was founded in 2009 and is based in Scottsdale, Arizona.

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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 40 of 48
Sector (Food) 3 of 5
Type (Add-on Acquisition) 35 of 43
State (Arizona) 3 of 3
Country (United States) 7 of 10
Year (2018) 5 of 7
Size (of disclosed) 7 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Imvescor Restaurant Group

Montreal, Quebec, Canada

Imvescor Restaurant Group Inc. is an own and operator of restaurants in Eastern Canada under four banners: Pizza Delight® , operating primarily in Atlantic Canada, in the family/mid-scale segment, Toujours Mikes and Scores® , operating primarily in Québec in the family and casual dining segments and the take-out and delivery segments, and Bâton Rouge® , operating in Québec, Ontario and Nova Scotia in the casual dining segment. The Company also licenses to third parties the right to manufacture and sell prepared food products under the Pizza Delight® , Toujours Mikes, Scores® and Bâton Rouge® brands and, through its wholly-owned subsidiary, Groupe Commensal Inc., manufactures and sells vegetarian branded food products in grocery stores and retail outlets under the Commensal® brand.

Buy $247M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Casa Grecque

Laval, Quebec, Canada

Casa Grecque is an own and operator of bring-your-own-wine restaurant. It currently has 31 franchised restaurants in operation, all of which are located in Quebec, Canada.

Buy $20M

Seller(S) 1

SELLER

Boxwood Partners

Richmond, Virginia, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Boxwood Partners LLC (BCP) is the private equity arm of Boxwood Partners, a middle-market M&A advisory firm. BCP focuses on profitable, early-stage companies that utilize the internet to generate a significant portion of their business. BCP looks to commit $2 to $20 million per transaction in companies with at least $500k in free cash flow. Sectors of interest include food/consumer products, healthcare technology/services, distribution, media, e-commerce solutions, fulfillment/warehousing, business services, and light manufacturing. Boxwood Capital Partners is based in Richmond, Virginia.


DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-17 SweetFrog Premium Frozen Yogurt

Scottsdale, Arizona, United States

SweetFrog Premium Frozen Yogurt is a producer of frozen yogurt flavors and fresh toppings choices. SweetFrog Premium Frozen Yogurt was founded in 2009 and is based in Scottsdale, Arizona.

Buy -