MONTREAL, Nov. 19, 2018 /CNW Telbec/ - Foodtastic Inc. ("Foodtastic") is pleased to announce that it has received a $47 million investment from Restaurant Royalty Partners, a joint venture between funds managed by Oaktree Capital Management, L.P. ("Oaktree") and JHR Capital LLC ("JHR Capital").
Peter Mammas, President and Chief Executive Officer of Foodtastic, said, "Our partnership with Restaurant Royalty Partners marks an exciting next step in our company's growth. This capital will accelerate Foodtastic's strategy of acquiring brands with strong potential for growth."
In addition, Foodtastic will continue its organic growth plan, which has seen 13 new restaurants open in 2018, with 18 planned for 2019.
Alex Taubman, Senior Vice President for Oaktree, said, "Peter and his team at Foodtastic have a strong track record of value creation. They have built a high quality business and we look forward to partnering to support the next stage of the company's growth."
Jordan Rubin, Managing Member for JHR Capital, said, "We are very excited to partner with Foodtastic. We believe the brands have great potential and are confident that management will continue to grow the company organically and find quality restaurant concepts to acquire."
Foodtastic is a Quebec-based franchisor of multiple restaurant concepts including, La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels, and Bacaro. Foodtastic is a leader in the restaurant franchising business in Quebec with over 40 restaurants and $100 million in annualised sales.
Oaktree is a leader among global investment managers specializing in alternative investments, with $124 billion in assets under management as of September 30, 2018. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/
About JHR Capital
JHR Capital employs an opportunistic approach to investing in public and private markets. JHR Capital is managed by Jordan Rubin. Prior to JHR Capital, Jordan was a partner and member of the investment team at Pershing Square Capital Management.
For further information: Peter Mammas, President & CEO - Foodtastic, Tel: 514.691.5050, 2365 rue Guenette, St Laurent QC, www.foodtastic.ca