MONTREAL – Restaurant franchisor MTY Food Group Inc. (TSX:MTY) said Tuesday it has signed a deal to buy the SushiGo chain of fast food restaurants for $1.05 million in cash.
The deal includes three franchised stores and two corporate-owned stores in the Ottawa-Gatineau region.
“The acquired stores occupy strategic locations in which the company does not currently have a strong presence, and as such, this acquisition is a great strategic fit into our portfolio,” MTY chief executive Stanley Ma said.
SushiGo joins MTY’s more than two dozen brands that include Thai Express, Vanellis and Sushi Shop.
The deal is expected to close by June 1 and remains subject to standard regulatory approvals and closing conditions.
MTY will pay for the purchase with cash on hand.