Tracked deals
24
24 tracked deals across 2019-2026.
Who's Buying Restaurants & Hospitality Companies in Canada
Buyer mix
Mixed buyer set
19 strategic · 8 pe
Top trend
Volume peaked in 2026
6 tracked deals announced in 2026.
Primary Insight
What Stands Out
- Foodtastic is active in Canada with acquisitions including Kinton Ramen (Ontario) and Central Social Hall (Alberta).
- Brand and platform consolidation shows up repeatedly, including ownership moves tied to franchising structures (e.g., Choice Hotels International’s stake in Choice Hotels Canada).
- Hospitality-adjacent deals appear alongside restaurant activity, such as Nocturne Luxury Villas acquiring Jayne's Luxury Rentals (Ontario) and Pursuit acquiring Jasper SkyTram (Alberta).
- Several transactions emphasize continuity: preserving brand identity, customer programs, or existing leadership/management teams.
| Theme | Example buyer(s) | What changes |
|---|---|---|
| Restaurant brand expansion | Foodtastic | Add banners; use operating infrastructure |
| Franchisor/network control | Choice Hotels International, Northland Properties | Consolidate rights/stakes to drive growth |
| Premium destination hospitality | Nocturne Luxury Villas, Pursuit | Expand luxury/attraction portfolios |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Foodtastic | 2 | Canadian restaurant franchisor/operator building a portfo... | Strategic |
| Foodtastic Inc. | 2 | Franchisor and operator of multiple quick-service and cas... | Strategic |
| 13401537 Canada Inc. | 1 | Numbered holding company controlled by Jean Bédard used a... | Investor |
| A&W Food Services NewCo | 1 | Newly formed publicly traded QSR franchisor created by th... | Strategic |
| A&W Food Services of Canada Inc. | 1 | Canadian quick-service restaurant franchisor and operator... | Strategic |
| A&W Revenue Royalties Income Fund | 1 | A limited-purpose income trust that holds interests in A&... | Mixed |
| Alterra Mountain Company | 1 | Operator of a family of mountain destinations, resorts an... | Strategic (PE-backed) |
| Arrivia | 1 | Global travel loyalty and technology company providing tr... | Strategic |
| Certares | 1 | Private investment firm focused on travel, hospitality, a... | PE |
| Champlain Financial Corporation | 1 | Montreal-based private holding/private equity firm invest... | PE |
Acquisition Volume in Restaurants & Hospitality in Canada by Year
Last 7 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Nocturne Luxury Villas
- Target
- Jayne's Luxury Rentals
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
Nocturne Luxury Villas announced the acquisition of Jayne's Luxury Rentals, a leading luxury vacation rental company in Canada. The deal expands Nocturne’s destination-based luxury hospitality portfolio, marking Nocturne’s first Canadian destination and its eighth luxury brand overall.
-
June 16, 2026
- Buyer
- Foodtastic
- Target
- Kinton Ramen
- Seller
- James Kim
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
Foodtastic, a Canadian restaurant franchisor, announced it has acquired Kinton Ramen, a Canadian-born Japanese ramen brand with locations across Canada and the United States. Foodtastic plans to expand Kinton Ramen in Canada using its operating infrastructure while preserving the menu, loyalty program, brand identity, and franchisee relationships.
-
- Buyer
- Happy Belly Food Group
- Target
- PHIRO Fresh Greek Grill
- Industry
- Restaurants & Hospitality
- Location
- Canada
- Type
- Addon
Happy Belly Food Group exercised its right to acquire the remaining 50% of PHIRO Fresh Greek Grill, which will make PHIRO a wholly owned subsidiary of Happy Belly. The transaction is expected to complete on a debt-free basis at a valuation multiple of 7.5x trailing-twelve-month EBITDA, with purchase consideration satisfied via transferring an agreed percentage of the joint venture’s existing Happy Belly shares (no cash and no issuance of new shares). Final transaction details are expected after reconciliations are completed in Q3 2026.
-
February 19, 2026
- Buyer
- Foodtastic
- Target
- Central Social Hall
- Industry
- Restaurants & Hospitality
- Location
- Alberta, Canada
- Type
- Buyout
Foodtastic has acquired Central Social Hall, a premium casual dining and social hall brand founded in 2012 and operating two locations in Edmonton. The acquisition expands Foodtastic’s portfolio of Canadian restaurant banners and positions Central Social Hall for a staged roll-out across Alberta and other Canadian provinces.
-
January 20, 2026
- Buyer
- Northland Properties
- Target
- Denny's Canada (Canadian trademarks, intellectual property and exclusive rights)
- Seller
- Denny's Inc.
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Northland Properties has acquired the trademarks, intellectual property and exclusive rights to the Denny's brand in Canada, consolidating full control of the chain after more than three decades as its master franchisor. The transaction also includes an equity stake in Denny's Inc., positioning Northland to align with the global brand while pursuing Canadian-specific growth and operational strategies for the network of ~85 restaurants employing over 3,500 people.
-
January 12, 2026
- Buyer
- Arrivia
- Target
- Bon Voyage Travel
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Arrivia, a global travel loyalty and technology company, has acquired Bon Voyage Travel, a luxury-focused, advisor-led travel agency. The deal preserves Bon Voyage Travel's brand and leadership (President Ryan Hansen remains in place; founder Peter Evans will serve in an advisory role) and is intended to strengthen Arrivia's presence in the premium and luxury cruise market; financial terms were not disclosed.
-
August 26, 2025
- Buyer
- Salt Creek Capital
- Target
- Infinity RRGB Ventures, Inc.
- Seller
- Sudhir Santos
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Salt Creek Capital, a San Francisco Bay Area private equity firm, has acquired Infinity RRGB Ventures, Inc., the exclusive Canadian franchisee and operator of Red Robin restaurants in British Columbia. The transaction transfers ownership from longtime owner Sudhir Santos while keeping CEO Jamie Reeves and the existing management team in place to drive future growth across Infinity's 11 locations.
-
August 6, 2025
- Buyer
- Choice Hotels International
- Target
- Choice Hotels Canada
- Seller
- InnVest Hotels
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
Choice Hotels International acquired the remaining 50% stake in Choice Hotels Canada from long-time joint venture partner InnVest Hotels for approximately $112 million, completing the transaction in July 2025. The move converts the Canadian business from a master-franchise model to a direct franchising model to accelerate growth across Canada, expand Choice's full 22-brand owner success system, and consolidate operations under Choice Hotels International leadership.
-
January 4, 2025
- Buyer
- Pursuit Attractions and Hospitality (Pursuit)
- Target
- Jasper SkyTram
- Seller
- Jasper Tramway Acquisition Corporation
- Industry
- Restaurants & Hospitality
- Location
- Alberta, Canada
- Type
- Buyout
Pursuit Attractions and Hospitality (Pursuit) completed the acquisition of the Jasper SkyTram in Jasper National Park for C$23.7 million (approximately USD $17 million). The purchase includes a renewable long-term lease with Parks Canada (nearly 30 years remaining) and expands Pursuit’s portfolio of attractions in the Canadian Rockies.
-
December 10, 2024
- Buyer
- Indigenous Gaming Partners, VICI Properties Inc., Sonco Gaming Inc.
- Target
- PURE Canadian Gaming
- Seller
- ONCAP (Onex Corporation)
- Industry
- Restaurants & Hospitality
- Location
- Alberta, Canada
- Type
- Buyout
Indigenous Gaming Partners (IGP), a consortium formed by five Nova Scotia First Nations in partnership with Sonco Gaming and supported by VICI Properties, has acquired PURE Canadian Gaming from ONCAP (Onex) following regulatory approvals. PURE, based in Edmonton, Alberta, operates four casinos across Alberta with approximately 1,100 employees; financial terms were not disclosed.
-
October 17, 2024
- Buyer
- A&W Revenue Royalties Income Fund, A&W Food Services of Canada Inc., A&W Food Services NewCo
- Target
- A&W Revenue Royalties Income Fund, A&W Food Services of Canada Inc.
- Seller
- Unitholders of A&W Revenue Royalties Income Fund
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Recapitalization
A&W Revenue Royalties Income Fund and A&W Food Services of Canada completed a strategic combination to create A&W Food Services NewCo, a publicly traded, growth-focused quick-service restaurant franchisor. The transaction resulted in the Fund units being delisted from the TSX and the common shares of A&W Food Services NewCo beginning trading on the TSX under ticker "AW" on October 18, 2024, providing a more conventional capital structure to finance growth initiatives.
-
September 6, 2024
- Buyer
- Happy Belly Food Group Inc.
- Target
- IQ Foods Co.
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Addon
Happy Belly Food Group Inc. has acquired 100% of Toronto-based QSR brand IQ Foods Co., including all four of its downtown Toronto locations. The acquisition expands Happy Belly's healthy/clean-eating platform, adding an estimated $4.0M in system sales and supporting the company's strategy of consolidating emerging food brands and growing its franchising footprint.
-
- Buyer
- Alterra Mountain Company
- Target
- Mike Wiegele Helicopter Skiing
- Seller
- Wiegele family
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Alterra Mountain Company has closed the acquisition of Mike Wiegele Helicopter Skiing (MWHS) in Blue River, British Columbia, adding the premier heli‑skiing operator to its portfolio to complement CMH Heli‑Skiing & Summer Adventures. The deal preserves the Wiegele legacy while enabling Alterra to invest in sustainability, guest experience enhancements, and deeper community and First Nation partnerships.
-
February 15, 2024
- Buyer
- Walter Capital Partners
- Target
- Charcoal Group of Restaurants
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Growth capital
Walter Capital Partners has made a platform/growth investment in the Charcoal Group of Restaurants to support the Ontario-based operator's expansion plans. The Charcoal Group — operator of brands including Beertown Public House and led by Jody Palubiski — plans to roughly double its number of restaurants (adding 15–20 new locations) under the partnership.
-
- Buyer
- Krystal Growth Partners
- Target
- Circle Wellness
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Growth capital
Krystal Growth Partners has made a growth investment in Circle Wellness to provide capital for construction and the launch of Circle Wellness’ flagship private thermal spa on Granville Island in Vancouver. The funding will support buildout and opening of six private Circuits at the new location; CDC Construction helped convert shipping containers into the facility’s spa spaces.
-
- Buyer
- Heli (heli.life)
- Target
- Great Canadian Heli-Skiing, Heather Mountain Lodge
- Seller
- Greg Porter, Maaike Porter
- Industry
- Restaurants & Hospitality
- Location
- British Columbia, Canada
- Type
- Buyout
Heli (heli.life), an adventure-travel marketplace, has closed the purchase of Great Canadian Heli-Skiing and the Heather Mountain Lodge in interior British Columbia. The acquisition is a vertical-integration move by Heli to own supply (a boutique heli-ski operator and lodge) while preserving the existing team and operations under the new ownership.
-
December 2, 2022
- Buyer
- Foodtastic Inc.
- Target
- Quesada Burritos & Tacos
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
Foodtastic Inc. has entered into an agreement to acquire Quesada Burritos & Tacos, a fast-growing Canadian quick-service restaurant brand. The acquisition adds Quesada's +175 restaurants to Foodtastic's portfolio and Foodtastic plans to open about 50 new Quesada locations over the next 36 months.
-
- Buyer
- 13401537 Canada Inc., Champlain Financial Corporation, Fondaction, Société Financière Bourgie, Horizon Capital Holdings Inc., Jean Bédard, Gestion Jean Bédard Inc.
- Target
- Sportscene Group Inc.
- Seller
- Public holders of Class A shares of Sportscene (Sportscene shareholders)
- Industry
- Restaurants & Hospitality
- Location
- Quebec, Canada
- Type
- Buyout
Sportscene Group Inc. completed a going-private amalgamation in which two subsidiaries of 13401537 Canada Inc. (controlled by CEO Jean Bédard) together with a consortium led by Champlain Financial Corporation — including Fondaction, Société Financière Bourgie and Horizon Capital Holdings Inc. — acquired the company. The transaction redeems public Class A shares for $7.25 per share and will result in the delisting of Sportscene from the TSX Venture Exchange and cessation of reporting obligations.
-
January 6, 2022
- Buyer
- PayFacto
- Target
- iShopFood Inc.
- Industry
- Restaurants & Hospitality
- Location
- Quebec, Canada
- Type
- Buyout
PayFacto, a Montréal-based payments and hospitality technology provider, has acquired Québec-based iShopFood Inc., an online ordering and restaurant technology platform. The acquisition adds online/mobile ordering, self-serve kiosks, digital menu boards and loyalty features to PayFacto's integrated payments and POS suite and positions the company for further growth in Canada and the United States.
-
- Buyer
- Foodtastic Inc.
- Target
- Pita Pit Canada, Pita Pit International
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
Foodtastic Inc. has acquired Pita Pit Canada and Pita Pit International, bringing the Pita Pit quick-service restaurant brand into Foodtastic's portfolio. Pita Pit operates approximately 225 restaurants in Canada and 135 internationally; Foodtastic said it plans aggressive growth for the brand with more than 50 new locations expected over the next 36 months.
-
- Buyer
- NewSpring Franchise (NewSpring Capital)
- Target
- Blo Blow Dry Bar
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Growth capital
NewSpring Franchise, a newly launched strategy from NewSpring Capital, made a growth-equity investment in Blo Blow Dry Bar, North America’s original blow dry bar franchise. The investment will support Blo’s continued multi-unit franchise expansion across the United States and Canada and NewSpring partners will join the company’s board to help scale the brand.
-
February 9, 2021
- Buyer
- Certares
- Target
- G Adventures
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Growth capital
Certares has completed a growth-capital investment in small-group adventure tour operator G Adventures. Founder Bruce Poon Tip remains the controlling shareholder; the capital will be used to accelerate M&A activity, upgrade shared services platforms, and support company growth following the pandemic.
-
March 21, 2019
- Buyer
- MTY Food Group Inc.
- Target
- South Street Burger
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
MTY Food Group Inc. announced that a wholly-owned subsidiary acquired substantially all of the assets of South Street Burger for approximately $5.1 million. The acquisition (24 franchised and 13 corporate restaurants, including one in Dubai) strengthens MTY's position in the fast-casual/gourmet burger segment and will move South Street Burger operations into MTY's Ontario offices.
-
- Buyer
- City Capital Ventures, LLC, Saxonwold Capital
- Target
- Redberry Group
- Industry
- Restaurants & Hospitality
- Location
- Ontario, Canada
- Type
- Buyout
City Capital Ventures (CCV), a Chicago-based private investment partnership, has acquired Toronto-based Redberry Group, one of North America’s largest quick-service restaurant franchisees with 134 restaurants (111 Burger King and 23 Pizza Hut) across Canada. Financial terms were not disclosed; CCV is partnering with Saxonwold Capital and has secured senior debt from CIBC and Scotiabank while engaging Spencer Stuart to lead a CEO search.
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Frequently Asked Questions
Which Canadian provinces show up most in these hospitality and restaurant acquisitions?
Recent locations include Ontario, Alberta, and British Columbia.
What types of buyers are most common in Canada’s restaurants and hospitality deals here?
The list includes restaurant franchisors and food-group operators (e.g., Foodtastic, Happy Belly Food Group), hospitality/infrastructure owners, and hospitality-adjacent operators such as travel and attractions (e.g., Arrivia, Pursuit).
Do these transactions typically preserve brand identity and customer-facing programs?
Several deals explicitly plan to preserve elements such as brand identity and loyalty program relationships (for example, Foodtastic and Kinton Ramen).
Are acquisitions limited to restaurants, or do they include broader hospitality?
Broader hospitality activity appears as well, including luxury vacation rentals (Nocturne Luxury Villas) and attractions in national-park locations (Pursuit acquiring Jasper SkyTram).
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