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MTY to buy Kahala Brands for a total of about $300 mln

1:05pm BST

MTY Food Group Inc : MTY enters into an agreement to acquire the shares of Kahala Brands Ltd . Total consideration for transaction is estimated at US$300 million . Transaction is expected to be immediately accretive. . MTY Food Group says cash component of consideration will be financed by MTY's cash on hand and by new credit facility that is presently being arranged . Deal with issuance of 2,253,930 shares of MTY and payment of US$240 million in cash . During 12 months following acquisition, combined entity is expected to generate over C$90 million in EBITDA .During 12 months following acquisition, combined entity is expected to generate C$250 million in revenues and C$2 billion in system sales.

Chimney says operation suspension of store

8:50am BST

Chimney Co Ltd <3178.T>:Says a Japan-based store operated by the co was ordered to suspend operation from Hamamatsu City Public Health Center based on Food Sanitation Act.

Jollibee Foods signs agreement for JV with Cargill Philippines

1:19am BST

Jollibee Foods Corp : Co and Cargill Philippines, inc. , a wholly owned subsidiary of Cargill Inc. have entered into an agreement . Agreement to build and operate a poultry processing plant in Santo Tomas, Batangas In Philippines . Cargill and jfc will have a 70% and a 30% stake respectively in the joint venture . Jfc will invest 244.9 million pesos for 30% while cargill will invest 571.5 million pesos for 70% of CJPMPI .

Diversified Restaurant Holdings to appoint David Burke as CEO

Tuesday, 24 May 2016

Diversified Restaurant Holdings Inc : Announced management succession plan that advances David G. Burke, to president, CEO on January 1, 2017 . Diversified Restaurant Holdings Inc says current chairman, president and CEO, Michael Ansley, will remain as chairman of board after transition . Announces plan to evaluate strategic alternatives for Bagger Dave's restaurants . CEO Michael Ansley to retain executive chairman role upon transition .Says "we look for a new chief financial officer".


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