MTY Completes the Acquisition of SushiGo

MTY Food Group Inc. (MTY) announced that pursuant to the announcement made on April 30, 2013, its wholly-owned subsidiary MTY Tiki Ming Enterprises Inc. has completed the acquisition of SushiGo for a consideration of $1.05 million paid from MTY's cash on hand.  The transaction is effective June 1st, 2013.
 
At closing, the chain operates five stores, including two corporately-owned ones.  The system has generated $2.3 million in sales during the most recent fiscal period.
 
SushiGo is a «counter shop» concept specialized in the preparation and the selling of sushi, meal soups and Asian meal salads, whether it is to go or to eat on location.  At SushiGo, tea and sushi are in harmony. SushiGo offers more than twenty natural teas of superior quality by the cup and in loose-leaf bulk.

on June 3, 2013