Serruya family completes majority acquisition of Kahala

As recently reported by peHUB Canada, Markham, Ontario's Serruya family, which manages a private equity fund that invests in retail franchises, has bought a majority stake in Kahala Corp., a Scottsdale, Arizona-based fast food restaurant company. The undisclosed deal was confirmed as closed on August 19, 2013. Kahala owns Canadian brand Cold Stone Creamery, an ice cream chain that has a business partnership with Tim Hortons. Private equity firm Delavaco Group was reported as partnering in the Kahala acquisition.

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