MONTREAL, Jan. 28, 2014 /CNW Telbec/ - Montreal-based Bofinger BBQ Smokehouse Restaurants ("Bofinger" or the "Company") is pleased to announce that it has completed the sale of a 50% stake in its parent company, Bofinger Holdings Group, to MMCN Investments Inc. ("MMCN"). The addition of MMCN as a shareholder is expected to bring synergistic value to the restaurant chain by introducing Bofinger products into retail distribution outlets, additional management, as well as the eventual rollout of further retail locations.
"Through our involvement, we expect to increase operational efficiencies of the Company's central kitchen as well build the Bofinger brand's market awareness within Quebec and Canada", said Chris Persechino, partner at MMCN Investments. "Part of our focus will be to capitalize on the companies great products by bringing them to retail distribution as well as build out further restaurants across the Province".
"We are very excited to have MMCN as part of the Bofinger family", said Lorne Bienstock, President of Bofinger Restaurants. "We share their vision and believe they are the right partners to take us to the next level".
IJW Management Inc. and Hermitage Canada Finance Inc. acted as financial advisors to Bofinger Holdings Group in its sale to MMCN Investments Inc.
About Bofinger Holdings Group (www.bofinger.ca)
Founded in 2007, Bofinger BBQ Smokehouses is a chain of retail restaurants specializing in American style bbq and food products. Along with servicing the general public with its food offerings, the Company also distributes its own private labeled sauces and cooking spices to major food retailers in Quebec.
About IJW Management Inc. (www.ijw.ca)
IJW Management Inc. is a Canadian based corporate finance boutique, providing strategic advice on mergers and acquisitions, corporate finance, and business valuation to mid-market companies. Founded in 2004, IJW has since become one of the fastest growing corporate finance boutiques headquartered in Montreal, Canada. The firm specializes in advising companies with enterprise values between $5 million and $50 million.
SOURCE IJW Management Inc.