Imvescor Restaurant Group announces termination of the agreement related to the sale of its Commensal operations
MONTREAL, Sept. 22, 2017 /CNW Telbec/ - Imvescor Restaurant Group Inc. ("IRG") (TSX: IRG) announced today that it has terminated the agreement to sell to an affiliate of Pasta Romana Foods Inc. substantially all of the assets of its wholly-owned subsidiary Groupe Commensal Inc. entered into on March 7, 2017 (the "Agreement") due to material breaches of the Agreement by the affiliate of Pasta Romana Foods Inc. Notice of the termination of the Agreement was given to the affiliate of Pasta Romana Foods Inc. and IRG is evaluating the alternatives available to it in light of the termination of the Agreement.
About Imvescor Restaurant Group Inc. Imvescor Restaurant Group Inc. is a dynamic and innovative organization in the family and casual dining restaurant industry. IRG is a franchise and licensing business that operates restaurants in Eastern Canada under five banners: Bâton Rouge®, operating in Québec, Ontario and Nova Scotia in the casual dining segment, Pizza Delight®, operating primarily in Atlantic Canada, in the family/mid-scale segment, Scores® and Toujours Mikes, operating primarily in Québec in the family and casual dining segments and the take-out and/or delivery segments, and Ben & Florentine®, operating primarily in Québec, with individual stores in Ontario and Manitoba, in the breakfast and lunch industry. IRG also licenses to third parties the right to manufacture and sell prepared food products under the Bâton Rouge®, Pizza Delight®, Scores® and Toujours Mikes brands.
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| Pizza Delight®: www.pizzadelight.com |
Scores®: www.scores.ca |
| Toujours Mikes: www.mikes.ca |
Bâton Rouge®: www.batonrouge.ca |
| Ben & Florentine®: http://benetflorentine.com |
SOURCE Imvescor Restaurant Group Inc.
Imvescor Restaurant Group Inc.: 514.341.5544, http://www.imvescor.ca, Investor Relations: [email protected], Frank Hennessey, President and Chief Executive Officer, Tania M. Clarke, Chief Financial Officer; Media Relations: ACJ Communication - Daniel Granger, 514.840.7990
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