Foodtastic has acquired all the assets of Montreal-based Copper Branch, a plant-based quick-service restaurant chain. No financial terms were disclosed. Foodtastic, a Montreal-based restaurant franchising business, this year secured an additional C$50 million investment from its backers Oaktree Capital Management and JHR Capital.
MONTREAL, May 13, 2021 /CNW/ – Foodtastic Inc., (“Foodtastic” or the “Company”) today announced that it has acquired substantially all the assets comprising the Copper Branch brand.
“Copper Branch is the largest Vegan restaurant brand in the world, 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 emerging through this pandemic with a revitalized leader in the plant powered restaurant space. This acquisition is consistent with our strategy of acquiring quality Canadian brands with growth potential.”
“We are very proud of the mission of our organization and the progress we have achieved in creating value and delivering a sustainable, plant powered experience for our guests,” said Trish Paterson CEO of Copper Branch. “This relationship will enable us to move more quickly and efficiently to bring Copper Branch’s brand to a new global customer base while driving improved operational efficiency and resources for our franchisees.”
“Since its beginning, Copper Branch has been on a mission to empower the health and lives of our customers through our inspired, wholesome plant-based menu. I am proud to have seen the brand grow and I look forward to its next chapter and continued success with Foodtastic. An experienced and dedicated company, I know Copper Branch is in good hands for a bright future.” – Rio Infantino, Founder and Former Chairman of Copper Branch.
Foodtastic looks to aggressively grow the brand in Canada as well as Internationally, with over 40 new locations expected to open in the next 36 months.
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, Bacaro, Rotisserie Joliette, Tommy Café, Gatto Matto, La Chambre and L’Gros Luxe. Foodtastic is a leader in the restaurant franchising business with over 370 restaurants and $390 million in annualized sales.