VAUGHAN, Ont. — The Quebec-based St-Hubert restaurant business has agreed to be acquired by the owner of the Swiss Chalet chain for $537 million.
In addition to 117 restaurants, Cara Operations Ltd. (TSX:CAO) will acquire two food manufacturing plants, two distribution centres and a real estate portfolio.
Cara says St-Hubert will fit strategically with its business, which includes numerous restaurant brands including Swiss Chalet, Harvey's and Milestones
Cara currently has 1,010 franchised and corporate restaurants, including 37 located internationally.
The Canadian Press