Foodtastic, the franchisor of Canadian restaurant brands, has revealed its intention to acquire the quick service restaurant (QSR) brand Noodlebox through an agreement.
The financial specifics of the transaction remain undisclosed by the companies.
Founded in 2001 in Victoria, British Columbia, Canada, Noodlebox specializes in the preparation of wok-fired Asian street food.
This QSR brand currently possesses and manages over 40 establishments and is actively pursuing extensive expansion throughout Canada.
Foodtastic and Noodlebox Deal:
Noodlebox CEO Dustin May stated, “It is with great pleasure that I announce the sale of Noodlebox to Foodtastic. We believe that Foodtastic is the perfect home for Noodlebox, and that together we will continue to uphold the values and quality that Company is known for.
“Noodlebox has thrived with 46 locations now open and a further 50 in the development pipeline, and we believe that Foodtastic and our Brand’s leadership team will create a bright future for our dedicated franchisees, team members and loyal guests.”
The acquisition of Noodlebox is anticipated to bolster Foodtastic’s strategic goal of further extending its footprint within the country, particularly in the Quick Service Restaurant (QSR) sector.
Foodtastic’s extensive portfolio also includes prominent restaurant brands such as Second Cup, Benny, Pita Pit, Shoeless Joe’s, Milestones, La Belle et La Boeuf, and Fionn McCool’s.
Foodtastic foresees a North American system sales figure of $1 billion, encompassing a network of over 1,200 stores, both new and existing, which includes Company.
Foodtastic Statements:
Foodtastic president and CEO Peter Mammas stated, “We are delighted to welcome Noodlebox into the Foodtastic family.
“Company’s reputation as a top-tier quick service restaurant brand aligns perfectly with our commitment to providing exceptional dining experiences to our customers. We look forward to working closely with all our new franchisees and driving the growth of the Brand brand across Canada.”
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Company is known for its expertise in serving wok-fired Asian street food and currently manages a network of over 40 locations throughout Canada.
In December 2022, Foodtastic disclosed its plans to acquire all the issued and outstanding shares of Freshii and the Canadian QSR brand, Quesada Burritos & Tacos, through agreements.