Montreal-based Redberry Resto Brands Inc. has acquired 16 Pizza Hut restaurants in Ontario, half of which are in the Ottawa area.
The deal is Redberry’s second major purchase in less than 18 months, following its September 2005 acquisition of 40 Pizza Huts to become the biggest franchisee of the pizza chain in Quebec.
Redberry bought the restaurants for an undisclosed amount from YUM! Brands Inc. of Louisville, Ky., which also owns the KFC, Taco Bell and A&W restaurant chains.
With the acquisition of the Ontario restaurants, Redberry expects its sales to rise to $60 million from approximately $48 million in 2006, and its workforce is increasing by 350 people to 1500 employees.
The company said it will be investing about $4 million in 2007 and 2008 to renovate its new Ontario restaurants.
Paul on May 31st, 2008 at 8:11 am
My teenaged daughter took me to a newly opened Red Berry Yogurt Franchise the other day and I was highly impressed with what they had to offer and the price was very reasonable for the customer’s $14.00 for 4-customers that I paid for. Since I am retired twice now, I thought that this might be something worth checking out and possibly getting involved it. Any and all info will greatly be appreciated.