Foodtastic has acquired Shoeless Joe’s Sports Grill, a Vaughan, Ontario-based sports-themed restaurant chain operating across Canada. No financial terms were disclosed. Foodtastic, a Montreal-based franchisor of multiple restaurant concepts, is backed by Oaktree Capital Management and JHR Capital.
MONTREAL, May 31, 2022 /CNW Telbec/ – Foodtastic Inc., (“Foodtastic” or the “Company”) today announced that it has acquired a majority interest in Shoeless Joe’s Sports Grill.
Shoeless Joe’s Sports Grill is a sports-themed restaurant chain with 22 locations across Canada. Founded by Fred Lopreiato, the popular establishment offers a wide variety of food including gourmet burgers, hand-stretched flatbreads, delicious bar staples like wings and nachos and health-conscious alternatives.
“We are extremely happy to welcome Shoeless Joe’s in our family. It is a great sports bar brand that will fit in perfectly in our restaurant portfolio” said Peter Mammas, President, and CEO of Foodtastic. “We are excited that Frank Lopreiato will stay on board as an equity partner and lead the brand, we are also looking forward to working with all our new franchisees and growing Shoeless Joe’s in Canada.”
“We are thrilled to join Foodtastic Inc. Our commitment to continually evolve the brand has played a major role in the success of our growth and ability to compete in this ever-changing landscape. We look forward to sharpening the enterprise with the acquisition.” said Frank Lopreiato.
Foodtastic is the franchisor of multiple restaurant concepts including Milestones, Pita Pit, Second Cup, La Belle et La Boeuf, Monza, Copper Branch, Carlos & Pepe’s, Souvlaki Bar, Nickels, Au Coq, Rotisseries Fusée, Rotisseries Benny, Chocolato, Big Rig, La Chambre, L’Gros Luxe, Gatto Matto and Bacaro. Foodtastic is a leader in the restaurant franchising business, with over 700 restaurants and $700 million in annualized sales.