Swiss Chalet owners Cara buying St-Hubert for $537M

The Quebec-based St-Hubert restaurant business has agreed to be acquired by the owner of the Swiss Chalet chain for $537 million.

In addition to 117 restaurants, Cara Operations Ltd. will acquire two food manufacturing plants, two distribution centres and a real estate portfolio.

Cara says St-Hubert will fit strategically with its business, which includes numerous restaurant brands including Swiss Chalet, Harvey’s and Milestones.

The Toronto-area company, based in Vaughan, says it has a limited retail presence in Quebec and will use St-Hubert’s head office in Laval as its Quebec base.

Cara also sees St-Hubert’s food manufacturing business — which makes two-thirds of its sales through external customers such as Sobeys, Loblaw, Costco and Metro — as a major growth opportunity.

St-Hubert has more than 10,000 employees, the company said. It was founded in Montreal in 1951.

Cara currently has 1,010 franchised and corporate restaurants, including 37 located internationally.

Alicia Roachford Brathwaite
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