MRM News Bites: Franchise Acquisition Fever, Cheesy Contest and Election Cookies on This Week’s Plate

Modern Restaurant Management magazine compiles restaurant industry headlines, new products, openings and personnel announcements in our weekly MRM News Bites. Send items of interest to Content Director Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com.

Acquisition FeverA wholly-owned subsidiary of MTY Food Group Inc. signed an agreement to acquire all of the equity interest of BF Acquisition Holdings, LLC, which currently franchises and operates 162 Baja Fresh Mexican Grill and 23 La Salsa Fresh Mexican Grill restaurants in the U.S., Dubai and Singapore. Of those 185 restaurants, 16 are corporately-owned and 169 are franchised. During 2015, the network generated more than $145 million in system sales. Total consideration for the transaction is estimated at $27 million in cash, to be financed using MTY's existing credit facilities. 

"Following the addition of Kahala last month, MTY intends to continue and accelerate its growth throughout North America…