MTY FOOD GROUP INC. TO ACQUIRE WETZEL'S PRETZELS

MONTREAL, Nov. 2, 2022 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY) today announced that one of its wholly owned subsidiaries, MTY Franchising USA, Inc., has entered into a definitive merger agreement (the "Merger Agreement") under which MTY would acquire all of the issued and outstanding shares of COP WP Parent, Inc. ("Wetzel's Pretzels", www.wetzels.com) for cash consideration of approximately US$207 million (C$284 million) (the "Transaction"), on a cash-free, debt-free basis. The terms and conditions of the Merger Agreement were unanimously approved by the Boards of Directors of both companies. The Transaction is subject to customary closing conditions including receipt of applicable regulatory approvals. Upon completion of the Transaction, Wetzel's Pretzels will become a wholly owned subsidiary of MTY.

Read more at newswire.ca