MTY Food Group Inc. entered into an agreement to acquire Kahala Corp. from Delavaco Group, Serruya Private Equity, and others for approximately $300 million.
Kahala's head office is located is Scottsdale, Arizona. Following the transaction, MTY's US head office will be moved into Kahala's current offices. The agreement remains subject to multiple conditions, including standard regulatory approvals (including TSX approval), financing and other conditions customary for a transaction of this nature. The closing of the transaction is expected to happen within the next 75 days. The transaction is expected to be immediately accretive. North Point Advisors acted as financial advisor to Serruya Private Equity. Curtis Cusinato, Mike Devereux and Evan Marcus of Stikeman Elliott LLP acted as legal advisors to Kahala Corp. All the conversions made using oanda.com as of November 11, 2016.