M&A Deal Summary

Recipe Acquires Original Joe s Franchise Group

On November 28, 2016, Recipe acquired restaurant Original Joe s Franchise Group for 93M USD

Acquisition Highlights
  • This is Recipe’s 5th transaction in the Restaurants sector.
  • This is Recipe’s 2nd largest (disclosed) transaction.
  • This is Recipe’s 5th transaction in Canada.
  • This is Recipe’s 1st transaction in Alberta.

M&A Deal Summary
Date 2016-11-28
Target Original Joe s Franchise Group
Sector Restaurants
Buyer(s) Recipe
Deal Type Add-on Acquisition
Deal Value 93M USD

Target

Original Joe s Franchise Group

Calgary, Alberta, Canada
Original Joe's Franchise Group, Inc. owns and operates a chain of restaurants in Western Canada. Its restaurants provide meat products. The company was founded in 2000 and is headquartered in Calgary, Canada.

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Buyer(S) 1

Buyer

Recipe

Vaughan, Ontario, Canada
Category Company
Founded 1883
Sector Restaurants
Employees17,500
Revenue 865M CAD (2020)
DESCRIPTION

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

DEAL STATS #
Overall 5 of 8
Sector (Restaurants) 5 of 8
Type (Add-on Acquisition) 4 of 5
State (Alberta) 1 of 1
Country (Canada) 5 of 8
Year (2016) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-31 Groupe St-Hubert

Laval, Quebec, Canada

St-Hubert is one of Québec's most admired and recognized restaurant companies and is known for its great tasting rotisserie chicken, courteous service and warm, trendy atmosphere. Based on total sales, St-Hubert is Québec's top full-service restaurant operator and Canada's fourth largest full-service restaurant operator. As at December 31, 2015, St-Hubert had 117 restaurants: 80 full-service restaurants & 37 express locations. 89% of St-Hubert restaurants are operated by franchisees and 92% are based in Québec.

Buy $537M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-16 The Pickle Barrel

Markham, Ontario, Canada

Pickle Barrel was founded in 1971 and today it has 12 corporately-owned restaurants in highly sought after locations along with a thriving catering business, all across the Greater Toronto Area. Pickle Barrel generates approximately $50 million a year in sales through its 11 Pickle Barrel restaurants and 1 Glow Fresh Grill & Wine Bar. It also has a significant catering business through Pickle Barrel catering as well as through a 50% interest in Rose Reisman Catering. Rose Reisman Catering is a menu development, catering and individual meal delivery business that is focused on health and wellness – it has been a popular and growing alternative in the Greater Toronto Area for over 20 years.

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