MTY to buy Boxwood-owned yogurt franchise for $46 mln

MTY Food Group Inc (TSX: MTY), a Canadian casual, fast casual and quick service restaurant company, has agreed to acquire most of the assets of the sweetFrog Premium Frozen Yogurt franchise system based in Richmond, Virginia. MTY agreed to pay about $46 million (US$35 million) for the system. The seller is Boxwood Capital Partners, the private equity arm of U.S. investment banking firm Boxwood Partners. Boxwood acquired sweetFrog's operating company in 2015. Founded in 2009, sweetFrog has 254 franchised locations and 78 corporate-owned locations, most of them in the United States. The deal is expected to close within 30 days.

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