June 14th, 2024

Freshii announces sale to franchisor Foodtastic complete

By The Canadian Press on February 22, 2023.

A customer walks into a Freshii restaurant in Montreal on March 21, 2017. The sale of Freshii Inc. to Montreal-based Foodtastic Inc. is complete. In a deal originally announced in December, the healthy fast-food chain says Foodtastic has acquired all of its voting shares at $2.30 per share.THE CANADIAN PRESS/Ryan Remiorz

TORONTO – The sale of Freshii Inc. to Montreal-based Foodtastic Inc. is complete.

In a deal originally announced in December, the healthy fast-food chain says Foodtastic has acquired all of its voting shares at $2.30 per share.

The shares are expected to be delisted from the Toronto Stock Exchange by Thursday.

Freshii joins Second Cup, Pita Pit, Milestones and other well-known food brands under the Foodtastic umbrella.

The franchisor said in December that the acquisition of Freshii will help put it on track to reach its goal of $1 billion in system-wide sales in Canada by the spring.

Freshii operates 343 locations in North America and internationally.

This report by The Canadian Press was first published Feb. 22, 2023.

Companies in this story: (TSX:FRII)

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