Canadian private equity firm Newlook Capital has partnered with Seth Corp in the acquisition of the La Prep Franchise System, the franchise system of La Prep, a Montréal-based bistro-style restaurant specializing in freshly prepared sandwiches, salads, baked goods and specialty coffees. Financial terms were not disclosed for the deal, which includes La Prep’s Ontario Master Franchise and all 52 franchised Canadian locations, as well as Seth’s brand, Chaska Indian Street Food. Newlook’s investment, made through New Taste Partners, will support La Prep’s and Chaska’s pursuit of new opportunities in the quick service restaurant sector.
New Taste Partners Acquires La Prep Franchise, 52 Locations.
Burlington ON November 2, 2017 / – Newlook Capital’s New Taste Partners (NTP), partnered with Seth Corp., has acquired the La Prep Franchise System, which includes the Ontario Master Franchise and all 52 franchised locations in Canada, as well as Seth’s own brand, Chaska Indian Street Food. Established in 1980 and headquartered in Montreal, La Prep is an urban concept which offers freshly prepared healthier food alternatives of sandwiches, salads, soups, baked goods, and breakfast options, alongside quality specialty coffees.
Abbas Osman, Chief Investment Officer at Newlook Capital, says, “La Prep and Chaska are uniquely positioned to tap into the growing market opportunities in the fresh and ethnic quick service restaurant sector. We already have an additional 6 to 8 openings scheduled for the next 12 months. We are very excited to partner with Naveen and his expert team to take this to the next level.”
Naveen Seth adds, “I believe La Prep has great potential for growth and expansion. With my knowledge of the industry, experience, strong leadership, and of course our talented and passionate team, we are ready to take this brand to the next level. People are looking for more now when dining out – they are looking for experience, something both brands offer. My job will be to ensure this experience is maximized through ongoing innovation and improved strategies.”
www.chaska.com / www.laprep.com
ABOUT NEWLOOK CAPITAL INC. Newlook Capital is a private equity firm that currently has 4 industry-specialized funds available to the retail and institutional markets. Each fund has its own focused, experienced, and aligned management, and a defined strategy. Investing throughout Canada and the U.S. with a preference for companies that exhibit a solid tangible assets base, Newlook Capital is focused on and current holdings include; multifamily real estate and services in the U.S., industrial services in Canada and the U.S., dental practices, and QSR in Canada. Newlook Capital Inc. took the initiative to establish Newlook LP and indirectly controls its general partner. www.newlookcapital.com For more information, please contact Laura Livingstone in Investor Relations firstname.lastname@example.org
Photo courtesy of La Prep