Kalaha And Its 18 Brands Acquired By Canada’s MTY

In a transaction estimated at US$300 million, Canada’s MTY Food Group has acquired Kahala Brands, the Arizona parent of Cold Stone Creamery and 17 other brands, including Blimpie, Pinkberry, Samurai Sam’s and Taco Time. Kahala franchises and operates more than 3,000 stores in 34 countries.

MTY Food Group, which operates more than 2,700 foodservice outlet and brands including TCBY and Manchu Wok, will merge its other U.S. assets with Kahala. The combined entity will have a portfolio of roughly 5,500 stores under 57 brands and is expected to generate about $190 million of revenue. “MTY has been searching for the right foundation for its U.S. expansion for the last three years and has finally found the perfect match,” says Stanley Ma, MTY’s chairman and CEO.