Foodtastic Inc has acquired Big Rig Brewery, an Ottawa-based supplier of craft beers, and the affiliated Big Rig Restaurants, a casual dining restaurant chain.
Terms weren’t disclosed.
Foodtastic, a Montréal-based franchisor of restaurant concepts, said the deal is in line with a strategy of acquiring local brands with growth potential that complement its existing portfolio.
It added that it will preserve the Big Rig brand and grow the restaurant system.
Last year, Foodtastic secured a $47 million investment from Restaurant Royalty Partners, a joint venture of Oaktree Capital Management and JHR Capital.
Foodtastic Purchases Big Rig Brewery and Big Rig Restaurants
MONTREAL, QC, June 10, 2019 /CNW Telbec/ – Foodtastic Inc.(www.foodtastic.ca ) is pleased to announce that it has acquired Big Rig Brewery (www.bigrigbrewery.com ) and Big Rig Restaurants (www.bigrigbrew.com ) (Big Rig). Founded in Ottawa in 2012, Big Rig Restaurants have been an Ottawa favorite for great beer and food. In 2014 a state-of-the-art Brewery was built in order to expand the distribution of the beer into retail outlets. Today, Big Rig beer is available in over 1000 locations, from St Johns Newfoundland to London Ontario.
Peter Mammas, President and Chief Executive Officer of Foodtastic, said, “Big Rig is a treasured local brand and we are excited to welcome Big Rig into the Foodtastic family. We look forward to preserving Big Rig’s strong brand, while growing the restaurant system across the region. We are already looking at locations in Toronto. This acquisition of a homegrown Ontario business is consistent with our strategy of acquiring quality brands with growth potential that complement our existing brand portfolio. We believe the Big Rig acquisition will leverage our marketing, purchasing and operational systems to better serve our Big Rig customers and welcome many new ones.”
Big Rig is a multiple award-winning brewer, recently receiving 2 gold and 1 silver medals, at the Canadian Brewer awards. The beer is sold in several provinces, and they serve over 5000 customers per week in their restaurants. Just recently, they were honored to welcome Prime minister Justin Trudeau, and Barrack Obama at their brewery, where they enjoyed some of their great beers.
An important part of the transaction was the retention of award-winning brew master Lon Ladell, who will increase his equity stake in the brewery. “Foodtastic is an amazing company and I’m thrilled to continue being a part of Big Rig brewery’s exciting future! With the financial support from Foodtastic we can now expand our operations throughout Canada” said Lon Ladell.
Foodtastic is the franchisor of multiple restaurant concepts including, Au Coq, La Belle et La Boeuf, Monza, Carlos & Pepe’s, Souvlaki Bar, Nickels, and Bacaro. Foodtastic is a leader in the restaurant franchising business with over 55 restaurants and $125 million in annualized sales.
For further information: Peter Mammas, President & CEO – Foodtastic, Tel: 514.691.5050, 9245 Thimens, Pierrefonds, Québec