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MTY Food Group Inc's MTY Tiki Ming Enterprises Inc Enters Into An Agreement To Acquire Assets Of Gestion SushiGo - Sesame Inc

Tuesday, 30 Apr 2013 02:35pm EDT 

MTY Food Group Inc's MTY Tiki Ming Enterprises Inc announced that it has entered into a binding agreement to acquire most of the assets of Gestion SushiGo - Sesame Inc. 9161-9379 Quebec Inc. and 9201-0560 Quebec Inc. for a total consideration of $1.05 million to be paid in cash.The closing of the transaction is scheduled to happen on or before June 1, 2013 and remains subject to standard regulatory approvals and closing conditions. The transaction will be funded from MTY's cash on hand. The transaction includes three franchised stores and two corporately-owned stores. All five stores are in the Ottawa/Gatineau region and are street-front locations. During its last fiscal period, the SushiGo network generated system sales of approximately $2.3 million in Canada. 

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-0.18 -0.52%
4:00pm EST