CBC is reporting that Quebec-based St-Hubert ( a popular chain of restaurants) has agreed to be acquired by Cara Operations for $537 Million. Cara Operations currently owns Swiss Chalet and will not have a major hold in the rotisserie chicken restaurant chain business.
Cara which also owns Swiss Chalet, Harveys and Milestones believes that the acquisition of the St-Hubert restaurant chain will give the Cara a strategic uplift and will fit in nicely with their current business strategy.
Cara Operations will take over 120 St-Huberts locations, most of which are found in Quebec and will acquire two food manufacturing plants.
We have not heard any information regarding St-Hubert making an Ontario comeback. But we will keep you posted as this story develops.
Source: CBC News