Foodtastic continues major growth with Milestones acquisition

June 17, 2021

Foodtastic continues to build its portfolio of fantastic brands with the acquisition of the high-profile Milestones restaurant brand. 
Quebec-based Foodtastic is a culinary success story and a leader in the restaurant franchising business. It purchased Milestones from Recipe Unlimited Corporation and the deal includes all of the assets comprising the Milestones restaurant brand.
"We are extremely impressed by the Milestones restaurant brand and are excited to welcome them into the Foodtastic family," said Peter Mammas, president and CEO of Foodtastic. "We look forward to welcoming all our new franchisees, teammates and customers. This acquisition is consistent with our strategy of acquiring quality Canadian brands with growth potential, and we are excited to introduce Milestones to the Quebec market."
The first Milestones opened on Denman Street in Vancouver in 1989 and now there are more than 40 casual-dining locations in British Columbia, Alberta, Saskatchewan, New Brunswick and Ontario. 
Foodtastic is on an upward trajectory, aggressively and successfully expanding top restaurant brands across the country and beyond. With more than 370 restaurants and $390 million in annualized sales, the franchisor owns multiple restaurant concepts, including Second Cup, Au Coq, La Belle et La Boeuf, Monza, Carlos & Pepe's, Souvlaki Bar, Nickels, Rotisseries Benny, Chocolato, Big Rig, Bacaro, Copper Branch, Tommy Café, Gatto Matto, La Chambre and L'Gros Luxe. 
The Milestones acquisition is the latest highpoint in Foodtastic’s growth journey. 
"By selling Milestones to an experienced operator like Foodtastic, the transaction should enable both companies to accelerate growth and better serve their customers," said Frank Hennessey, CEO of Recipe, which operates 25 recognizable brands, including Swiss Chalet, St-Hubert, The Keg, Pickle Barrel Bier Markt and 1909 Taverne Moderne. "This transaction enables Recipe to further rationalize our portfolio to focus on large brands that generate significant free cash flow and dominate their segment with younger brands that offer attractive opportunities for accelerated new restaurant growth. While it is always difficult to depart with valued franchisees and teammates, we feel that Foodtastic is the right parent for Milestones at this stage of its history."
Foodtastic is proving itself a major player in the restaurant space, with a string of strategic acquisitions and impressive results. It’s already shaping up to be an exciting 2021 for Foodtastic, which earlier this year bought the Second Cup Coffee Co. chain from Aegis Brands Inc. then, in May, announced another major acquisition—plant-based powerhouse Copper Branch.
The timing is ideal: The pent-up demand for restaurants and eating out continues to grow across the country, as Canadians emerge from pandemic-related lockdowns.  
At Think Retail we are thrilled to watch this Quebec-based company execute its vision and we congratulate the Foodtastic team on their latest acquisition. 
For more information or to talk about Foodtastic’s exciting growth plans, contact the Think Retail Team.