A wholly-owned subsidiary of Canadian quick service restaurant chain MTY Food Group has acquired Timothy’s World Coffee and mmmuffins.
The two brands were purchased from Le Duff America, a US-based subsidiary of French bakery cafe Groupe Le Duff, for $1.7m. The deal includes the sale of 32 franchised and seven corporate locations between the two brands.
Go deeper with GlobalData
After the completion of the deal, Le Duff America will continue to operate its brands Au Pain Doré, Brioche Dorée and Michel’s in Canada.
Le Duff America CEO Olivier Poirot said: “The closing of this sale completes Le Duff’s transition to a French-focused café-bakery company.
“It is also the capstone of a phenomenal year as we’ve successfully executed our strategy to refranchise la Madeleine and develop a US version of Le Duff legacy brand Brioche Dorée.”
Apart from this deal, Le Duff America is planning to introduce its Brioche Dorée brand in the US with its first location set to open in Washington, DC in October this year.
The new restaurant will offer Parisian-style and urban French cuisine, sandwiches, breads, pastries and soups.
Le Duff America has also entered into development deals to open 111 new locations of its la Madeleine French Bakery & Café brand in existing and new markets.
Recently, MTY Food Group completed the acquisitions of fast food restaurant concept Grabbagreen franchise system and Imvescor Restaurant Group.
