PE-backed A&W Food Services snaps up funding

Vancouver-based A&W Food Services of Canada, a hamburger restaurant chain, has secured an additional C$10 million in equity financing from its shareholders.

Vancouver-based A&W Food Services of Canada, a hamburger restaurant chain, has secured an additional C$10 million in equity financing from its shareholders. Canadian mid-market private equity firm TorQuest Partners acquired a significant minority stake in A&W Food Services of Canada in 2018.

PRESS RELEASE

VANCOUVER, April 14, 2020 /CNW/ – A&W Food Services of Canada Inc. (A&W Food Services) announced that its current shareholders have invested a further $10 million of common equity into the company.

“The current COVID-19 Pandemic has had a material impact on the businesses of A&W Food Services and A&W franchisees. To further support the business, the shareholders have invested additional capital to ensure the company has sufficient resources during this period of uncertainty caused by COVID-19,” said Susan Senecal, President and CEO of A&W Food Services.

ABOUT A&W FOOD SERVICES
A&W Food Services of Canada Inc. is Canada’s second largest quick-service hamburger restaurant chain and is 100 per cent Canadian owned. Over 99% of the restaurants are operated by franchisees. Operating coast-to-coast, A&W restaurants feature famous trade-marked menu items such as The Burger Family, Chubby Chicken and A&W Root Beer. For more information, please visit aw.ca. Find A&W on Twitter, Instagram, Facebook and YouTube.