In restaurant retail news, the owner of some of the biggest food chains in Canada is about to get bigger. The organization Cara Operations who currently operates Swiss Chalet, Harvey’s, St-Hubert, Milestones, Montana’s, Kelsey’s and a bevvy of other notable restaurants has just struck a deal to buy Keg Restaurants LTD for $200 Million.
The CBC is reporting that Cara Operations announced the deal on Tuesday and will see the Ontario -based Cara take over The Keg chain of 106 steakhouses in North America. Cara has been a red-hot commodity in the casual dining arena as the brand saw sales in excess of $2 billion.
Cara Operations has decided to leave The Keg’s CEO, David Aisenstat in charge of the keg as well as take control over Cara’s other higher-end restaurant brands.
The two companies have stated that the deal will become official by the end of March.