MTY is purchasing The Works

MONTREAL — The Works Gourmet Burger Bistro is in the process of joining the MTY Food Group Inc. family of restaurants.

On May 8, MTY announced one of its subsidiaries has signed an agreement to acquire the assets of The Works Gourmet Burger Bistro for an estimated consideration of $8 million.

The burger bistro has 27 restaurants in its network, four of which are owned by the company.  All of the The Works restaurants are located in Ontario. In the last twelve months, the restaurant group generated about $35 million in sales.

"MTY is proud to add another young and dynamic brand to its portfolio,” said Stanley Ma, chairman of the board and chief executive officer of MTY. “The Works has great growth potential for the future and will solidify MTY's presence in the gourmet burger market."

The purchase is expected to finalize by late June, if several condition are met, including regulatory approvals and other conditions customary for a transaction of this nature.

Ion Aimers opened the first The Works location in Ottawa in 2001. After expanding to six restaurants, Aimers sold the brand to Oakville-based Fresh Brands in 2010.

The Works' current president, Bruce Miller will continue to lead the brand following the transaction.  As well, MTY expects to maintain the The Works headquarters in Oakville, Ont.

Throughout The Works’ history, the brand has become known for its unique burger toppings.

"We were the first burger restaurant to put peanut butter on a burger, the first to put Kraft Dinner on a burger, the first to offer 11 different types of cheese, and we were the first to cause an international media frenzy when we created the Reese PBC and stuffed a burger with Reese peanut butter cups,” Miller said.

In Canada, MTY operates about 40 restaurants brands including Country Style, Mr. Sub, Extreme Pita, Mr. Souvlaki, Manchu Wok and Mucho Burrito.

Last year, MTY announced the purchase of Kahala Brands for a reported $300 million US, the largest acquisition in its history. The deal doubled its number of restaurants to 5,500 under 57 brands.