Second Cup has operations teams across Canada and we want to take our other brands out of Quebec and Ontario and into other parts of Canada, so we re going to use that platform to do it, Mammas said in an interview. It gives us more of a national footprint.
Mississauga-based Aegis Brands didn t disclose Second Cup s sale price but said it includes $14 million in cash, plus a post-closing earn-out.
Mammas said Foodtastic is also taking over a very, very large lease liability.
Still, the franchisor of multiple restaurant concepts, including Big Rig Kitchen & Brewery, Chocolato, La Belle & La Boeuf, Rotisseries Benny and Souvlaki Bar, is planning to grow the Second Cup brand.
Second Cup Coffee Co to be sold to Quebec restaurant franchiser Foodtastic - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.
Second Cup sold by Aegis Brands to Quebec company Foodtastic theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.