MTY Food Group, Inc. (MTY) MTY, franchisor and operator of multiple
concepts of quick service restaurants, and Keurig Canada Inc., a subsidiary of
Keurig Green Mountain, Inc. (Keurig) GMCR, a leader in specialty
coffee, coffee makers, teas and other beverages with its innovative brewing
technology, today announced the companies have reached an agreement regarding
the Van Houtte Café-Bistros franchise network. Under the terms of the
agreement, Keurig Canada will maintain ownership of the Van Houtte brand,
image, and wholesale business, while MTY will own and operate Van Houtte
Café-Bistros, taking them into a new era of great food and beverage service.
MTY has acquired certain assets from Keurig used exclusively in connection
with the Van Houtte-branded Café-Bistro franchise system, comprised of 50
franchised and one Keurig-owned café-bistro in Quebec, which generated total
franchise sales of over $25 million for franchisees in the 12-month period
ended September 29,2014 most recent completed fiscal year. As part of the
agreement, MTY will offer only Van Houtte® branded coffee, and other Keurig
Brewed® products, roasted and packaged by Keurig for sale in Van
Houtte-branded Café-Bistros. In turn, Keurig Canada has licensed use of the
Van Houtte® brand to MTY in perpetuity. Financial terms of the transaction,
which closed November 7^th, were not disclosed.
“MTY is very proud to become the trusted business partner of Keurig to own and
operate such an iconic franchise network,” said Stanley Ma, CEO of MTY. “The
addition of the Van Houtte-branded Café-Bistros will further increase the
presence of MTY in the quick service restaurants market, and we are confident
the partnership with Keurig will benefit MTY, Keurig and the franchisees of
the network.”
“Through this relationship with MTY, Keurig will have the opportunity to
continue to focus on roasting, packaging and distributing the quality Van
Houtte coffees our consumers love and expect both in their neighborhood Van
Houtte-branded Café-Bistros as well as in local stores and offices,” said
Stéphane Glorieux, president of Keurig Canada. “We know that MTY's expertise
in operating quick service restaurants will ensure the high-quality
expectations associated with the Van Houtte brand and will be well represented
at the Van Houtte-branded Café-Bistros going forward.”
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