Fast food restaurant company MTY Food Group (TSX:MTY) has acquired Van Houtte coffee bistros from Keurig Canada for an undisclosed price.
MTY, whose coffee brands already include Cafe depot, Muffin Plus and Country Style, will operate the 50 Van Houtte franchised locations and one Keurig-owned bistro in Quebec.
The franchised locations generated more than $25 million in annual sales.
The coffee houses will sell only Van Houtte and Keurig products, while the subsidiary of Keurig Green Mountain Inc. (NASDAQ:GMCR) will own the Van Houtte brand and wholesale business.
The transaction closed on Friday.
MTY chief executive Stanley Ma said the Van Houtte coffee bistros will increase the company's fast food presence.
Vermont-based Keurig Green Mountain acquired Van Houtte and its 1,800 employees four years ago for $915 million.
MTY Group owns and operates a network of over 30 brands and 2,700 franchised restaurants, many of which operate in malls.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.