TSX Trading Symbol: "MTY"
MONTREAL, June 6, 2017 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY) announced today the signature of an exclusive agreement introducing TCBY Canada in current and future Cinemas Guzzo movie theaters.
The introduction of TCBY frozen yogurt in Guzzo movie theaters will begin approximately June 12th and will be deployed over two weeks, to be completed around June 23rd. The original term of the agreement is for five years, with a renewal option of the same duration.
Cinemas Guzzo had 10 locations in operation as the signing of the agreement. Mr. Vincent Guzzo, President and Chief Executive Officer of Cinemas Guzzo, said ''we are thrilled to offer TCBY frozen yogurt to our guests in our cinemas''.
TCBY Canada offers frozen yogurt to Canadians since 1997, and has been managed by MTY Tiki Ming Entreprises Inc. since 2005 under a transnational master franchise agreement. TCBY (The Country's Best Yogurt) is a well-known worldwide brand that began its operations in 1980 in Little Rock, AR. as the very first frozen yogurt franchise system. For more information, please visit www.tcbycanada.com.
About MTY Food Group Inc.
Headquartered in St-Laurent, QC (Canada), MTY is one of the leaders in the quick service restaurant industry, with 60 brands and over 5,500 restaurants in operation in the United States, in Canada and internationally. MTY's network is expected to generate over $2 billion in sales in 2017. To learn more about MTY, please visit the company's website at www.mtygroup.com.
This press release includes forward-looking statements, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends" or similar expressions and reflect management's expectations regarding future events and operating performance, speak only as of the date hereof. These forward-looking statements include statements about MTY's expectations regarding its ability to expand the TCBY brand and business in Cinemas Guzzo. The factors that could cause actual results to differ materially from MTY's expectations are detailed in filings of MTY's annual and quarterly reports and include the following: risks related to MTY's ability to successfully implement its domestic and international growth strategy; risks related to MTY's ability to compete domestically and internationally in an intensely competitive industry. Other than as required under Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.
On Behalf of the Board of Directors of
MTY Food Group Inc.
Stanley Ma, Chairman, President & CEO
SOURCE MTY Food Group Inc.
For further information: Eric Lefebvre, Chief Financial Officer at 1-514-336-8885 x 288 or by email at [email protected], or visit our website: www.mtygroup.com or SEDAR's website at www.sedar.com under the Company's name.