Oaktree, JHR-backed Foodtastic acquires QSR brand Pita Pit

Foodtastic has acquired Pita Pit Canada and Pita Pit International, a quick-service restaurant brand with 225 restaurants in Canada and an additional 135 globally.

Foodtastic has acquired Pita Pit Canada and Pita Pit International, a quick-service restaurant brand with 225 restaurants in Canada and an additional 135 globally. No financial terms were disclosed. Foodtastic, a Montreal-based restaurant franchising business, is backed by Oaktree Capital Management and JHR Capital.

PRESS RELEASE

Foodtastic acquires Pita Pit Restaurants

MONTREAL, Aug. 3, 2021 /CNW/ – Foodtastic Inc., (“Foodtastic” or the “Company”) today announced that it has acquired Pita Pit Canada and Pita Pit International.

Pita Pit is the leading Pita Pit currently operates 225 restaurants in Canada and an additional 135 internationally.

“Pita Pit is one of the largest QSR (Quick Service Restaurant) brands in the country, and we are happy to welcome it into the Foodtastic Family” said Peter Mammas, President and CEO of Foodtastic. “We look forward to working with all our new franchisees and growing the brand both in Canada and Internationally.”

“We are extraordinarily proud of our franchise partners, front line team workers and our corporate team and what they have achieved over the past 26 years. We are excited for the future of the brand in the extremely capable hands of the Foodtastic group and their excellent leadership” said Chris Fountain CEO of Pita Pit. –

Foodtastic looks to aggressively grow the brand in Canada as well as Internationally, with over 50 new locations expected to open in the next 36 months.

About Foodtastic

Foodtastic is the franchisor of multiple restaurant concepts including, Second Cup, Au Coq, La Belle et La Boeuf, Monza, Carlos & Pepe’s, Souvlaki Bar, Nickels, Rotisseries Benny, Chocolato, Big Rig and Bacaro. Foodtastic is a leader in the restaurant franchising business, and with the recent purchases of Milestones and Pita Pit, the system will have over 600 restaurants and $600 million in annualized sales.