The company has set its sights on reaching $1.5B in sales within 30 months, and $2B in sales within five years From alicjawithaj
January 3, 2023, 7:03 p.m.Foodtastic has gone on an acquisition spree, purchasing several restaurant chains, including a majority stake in Shoeless Joe's. The chief executive officer of Foodtastic Inc. says the company is in the midst of expanding, and looking for new restaurants to add to its growing list of acquisitions.
"A lot of restaurants were having problems, be it financial or with staffing. And we have a platform, we have a lot of money behind us, so we just started buying what made sense."The first significant purchase of the acquisition spree was Second Cup Coffee in early 2021. A few months later, Foodtastic acquired vegan restaurant brand Copper Branch. It then purchased the Milestones restaurant chain from Recipe Unlimited Corp, followed by Pita Pit.
"We're already starting with a brand that's loved by both the customers and the franchisees," Mammas said. Mammas, who worked in the industry from a young age and first sold his restaurant business in 2007, isn't worried about expanding too quickly. He says the company's shared services allow integrations to happen easily and quickly, and that the operations teams across each business "allow us to keep adding more brands without making it more difficult overall."
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Benedict XVI was 'a man of conviction,' Montreal archbishop saysThe pope emeritus died on Saturday at the age of 95, nine years after his resignation.
Read more »
A tote bag made with seatbelts? Montreal area thrift shop gets creative for its community - Montreal | Globalnews.caAn off-island thrift shop thrives on creating items from donated material and items in an effort to reuse and reduce waste as much as possible.
Read more »
Halifax architect, Montreal developer named to Order of Canada - constructconnect.com - Daily Commercial NewsOTTAWA — A renowned Nova Scotia architect and a prolific Montreal developer were among 99 Canadians appointed to the Order of Canada Dec. 29. Among the new appointments announced by Governor General Mary Simon were two Companions, 32 Officers and 65 Memb
Read more »
Montreal prison manager suspended in addition to guard after death of illegally detained 21-year-old man - Montreal | Globalnews.caQuebec's Public Security Department says the suspension is the second involving a Bordeaux detention centre employee in connection with the death of Nicous D'Andre Spring.
Read more »