03/31/2016 06:48 EDT | Updated 04/01/2017 01:12 EDT

Owner of Swiss Chalet buying Quebec-based St-Hubert business for $537 million

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

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