Foodtastic continues its impressive growth with the purchase of L'Gros Luxe and the opening of several new restaurants
MONTREAL /CNW Telbec/ - Foodtastic Inc.(www.foodtastic.ca ) is pleased to announce that it continues its growth strategy with the acquisition of le L'Gros Luxe (www.lgrosluxe.com) and Rotisserie de Joliette (www.rotisseriejoliette.com), and its expansion into the Toronto restaurant market with the opening of its newest Big Rig Kitchen and Brewery (www.bigrigbrew.com).
Peter Mammas, President and Chief Executive Officer of Foodtastic, said, "L'Gros Luxe is a great local Quebec brand and we are excited to welcome it into the Foodtastic family. We are happy to be able to help this great concept through this difficult time, which has affected many restaurants and brands. L'Gros luxe has been a Quebec favorite for several years, serving delicious comfort food and great cocktails. Our mission is to help the existing franchisees, through our marketing, operations, and buying power. L'Gros Luxe is the perfect conversion concept for many restaurants, and we are already looking at several opportunities in the greater Montreal area, as well as reopening several locations that closed due to COVID 19. This acquisition of a homegrown Quebec business is consistent with our strategy of acquiring quality brands with growth potential that complement our existing brand portfolio." Said Peter Mammas, President and Chief Executive Officer of Foodtastic.
An important part of the transaction was the retention of Alex Bastide, the creator of L'Gros Luxe, who will retain an equity stake in the concept. "Foodtastic is an amazing company and I'm thrilled to continue being a part of L'Gros Luxe, and its exciting future! With the financial support from Foodtastic we can now expand our operations throughout Quebec." said Alex Bastide.