Canadian multiconcept operator MTY Food Group Inc. continued its spate of acquisitions by agreeing to purchase the assets of Yuzu Sushi, a chain of sushi restaurants. The deal is expected to close within 45 days of the June 6 announcement.
The Yuzu Sushi network currently has 132 points of sale in operation, including 68 restaurant franchises, 30 franchised express counters, and 34 complementary grocery outlets. Yuzu Sushi operates mainly in the Canadian province of Quebec and has a presence in New Brunswick. System sales totaled more than $40 million in the fiscal year ended Dec. 31, 2018, per a release announcing the deal.
Steve Morency and Frédéric Matte, current owners of Yuzu Sushi, will continue to lead the restaurant chain, which will also retain its head office in Quebec City. The rest of the Yuzu Sushi team is expected to remain with the concept.