Inactive Instrument

Freshii Inc.

FRII

CA35805P1071

Freshii announces sale to franchisor Foodtastic complete

February 22, 2023 at 11:22 am EST

TORONTO — The sale of Freshii Inc. to Montreal-based Foodtastic Inc. is complete.

In a deal originally announced in December, the healthy fast-food chain says Foodtastic has acquired all of its voting shares at $2.30 per share.

The shares are expected to be delisted from the Toronto Stock Exchange by Thursday.

Freshii joins Second Cup, Pita Pit, Milestones and other well-known food brands under the Foodtastic umbrella.

The franchisor said in December that the acquisition of Freshii will help put it on track to reach its goal of $1 billion in system-wide sales in Canada by the spring.

Freshii operates 343 locations in North America and internationally.

This report by The Canadian Press was first published Feb. 22, 2023.

Companies in this story: (TSX:FRII)

Latest news about Freshii Inc.

Freshii Completes Plan of Arrangement with Foodtastic	23-02-22	MT
Freshii Inc.'s Equity Buyback plan announced on May 11, 2022, has expired.	23-02-21	CI
Foodtastic Inc. completed the acquisition of Freshii Inc. from a group of shareholders.	23-02-21	CI
North American Morning Briefing : Stock Futures -2-	23-02-15	DJ
Freshii Shareholders Approve Acquistion by Foodtastic	23-02-08	MT
Freshii to be Acquired by Foodtastic Inc For $2.30 Per Share in Cash	22-12-19	MT
Freshii Brief: To be Acquired by Foodtastic Inc.; All-cash consideration of $2.30	22-12-19	MT
Foodtastic Inc. entered into an arrangement agreement to acquire Freshii Inc. from a group of shareholders for CAD 74.4 million.	22-12-18	CI
Transcript : Freshii Inc., Q3 2022 Earnings Call, Nov 10, 2022	22-11-10
Tranche Update on Freshii Inc.'s Equity Buyback Plan announced on May 11, 2022.	22-11-09	CI
Freshii Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 25, 2022	22-11-09	CI
Freshii Franchisee Signs Agreement to Develop 6 More Restaurants in New Jersey	22-11-09	CI
Transcript : Freshii Inc., Q2 2022 Earnings Call, Aug 11, 2022	22-08-11
Tranche Update on Freshii Inc.'s Equity Buyback Plan announced on May 11, 2022.	22-08-10	CI
Freshii Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 26, 2022	22-08-10	CI
Earnings Flash (FRII.TO) FRESHII Posts Q2 Revenue $10.5 Million	22-08-10	MT
Freshii Launches Freshii Classics with Two New Bowls and Two New Salads	22-08-04	CI
Transcript : Freshii Inc., Q1 2022 Earnings Call, May 12, 2022	22-05-12
Tranche Update on Freshii Inc.'s Equity Buyback Plan announced on February 25, 2021.	22-05-11	CI
Freshii Inc. Reports Earnings Results for the First Quarter Ended March 27, 2022	22-05-11	CI
Freshii Inc. announces an Equity Buyback for 2,399,477 shares, representing 9.53% of its issued share capital.	22-05-11	CI
Earnings Flash (FRII.TO) FRESHII Says Q1 2021 Co-wide revenue up 162% vs. prior year, driven by growth across all business lines and Natura Market acquisition	22-05-11	MT
Freshii Inc. Appoints Victor Diab as CFO	22-05-11	CI
Freshii Inc. Moves Matthew Corrin to the Role of Executive Chairman	22-05-11	CI
Freshii Inc. Promotes Daniel Haroun to CEO	22-05-11	CI

Freshii Inc. is a Canada-based omnichannel health and wellness company. The Company operates through two segments: North American Franchised (NAF) Restaurant and Retail and E-commerce. The NAF Restaurant segment consists of the Company's North American franchise stores, which represent the Company's system-wide stores. The restaurant operations segment consisted of over 331 restaurants operated by franchise partners. Its Retail and Ecommerce segment brings health and wellness products to consumers through two growth stage business lines, which have been aggregated based on their shared economic and other characteristics. Its consumer-packaged goods CPG business, which provides healthy food, beverage and snacking products in an ?on-the-go? format, primarily through third-party retailers and Freshii restaurant locations, and Natura, an online retailer of health and wellness products. It operates globally in more than 400 locations across 85+ cities in over 16 countries.

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