BBQ Holdings Says MTY Food Group To Acquire Co For $17.25/Share

Author: Benzinga Newsdesk | August 09, 2022 07:31am

MONTREAL, August 9th, 2022 - MTY Food Group Inc. ("MTY" or the "Company") (TSX:MTY) and BBQ  Holdings, Inc. ("BBQ Holdings") (NASDAQ:BBQ) today announced they have entered into a definitive merger agreement (the "Merger Agreement") under which MTY would acquire all of the issued and outstanding common shares of BBQ Holdings for cash consideration of US$17.25 per BBQ Holdings share representing total transaction value of approximately US$200 million (C$257 million) (the "Transaction"), including BBQ Holdings' net debt. The terms and conditions of the Merger Agreement were unanimously approved by the Boards of Directors of both companies. The Transaction is subject to customary closing conditions including receipt of applicable regulatory approvals. Upon completion of the Transaction, BBQ Holdings will become a subsidiary of MTY and the shares of BBQ Holdings will be de-listed from NASDAQ.

Posted In: BBQ TSX:MTY