Sponsored By

Cara Operations acquires The Keg steakhouse chain for $161.4MCara Operations acquires The Keg steakhouse chain for $161.4M

Canada’s largest full-service operator expands in CA$200M cash-stock deal

Ron Ruggless, Senior Editor

January 25, 2018

2 Min Read
Nation's Restaurant News logo in a gray background | Nation's Restaurant News

Cara Operations Ltd. has agreed to buy 106-unit Keg Restaurants Ltd. in a deal worth about CA$200 million ($161.4 million), the companies said Tuesday.

Vaughn, Ontario-based Cara, which has 1,259 restaurants, mostly in Canada, said it agreed to pay CA$105 million ($85.2 million) in cash and 3.8 million Cara voting shares for the Vancouver-based casual-dining steakhouse chain.

The Keg has 96 restaurants in Canada and 10 units in Arizona, Colorado, Texas and Washington.

The Keg restaurants generate about CA$612.1 million ($496.5 million) in annual systemwide sales, the companies said. The Keg’s same-store sales growth in the first nine months of 2017 was 4.8 percent.

Cara also said it would change its name to reflect the Keg acquisition when t...

Create a free account or login

This content is available for registered users

Already Subscribed?

About the Author

Ron Ruggless

Senior Editor, Nation’s Restaurant News / Restaurant Hospitality

Ron Ruggless serves as a senior editor for Informa Connect’s Nation’s Restaurant News (NRN.com) and Restaurant Hospitality (Restaurant-Hospitality.com) online and print platforms. He joined NRN in 1992 after working 10 years in various roles at the Dallas Times Herald newspaper, including restaurant critic, assistant business editor, food editor and lifestyle editor. He also edited several printings of the Zagat Dining Guide for Dallas-Fort Worth, and his articles and photographs have appeared in Food & Wine, Food Network and Self magazines. 

Ron Ruggless’ areas of expertise include foodservice mergers, acquisitions, operations, supply chain, research and development and marketing. 

Ron Ruggless is a frequent moderator and panelist at industry events ranging from the Multi-Unit Foodservice Operators (MUFSO) conference to RestaurantSpaces, the Council of Hospitality and Restaurant Trainers, the National Restaurant Association’s Marketing Executives Group, local restaurant associations and the Horeca Professional Expo in Madrid, Spain.

Ron Ruggless’ experience:

Regional and Senior Editor, Informa Connect’s Nation’s Restaurant News and Restaurant Hospitality (1992 to present)

Features Editor – Dallas Times Herald (1989-1991)

Restaurant Critic and Food Editor – Dallas Times Herald (1987-1988)

Editing Roles – Dallas Times Herald (1982-1987)

Editing Roles – Charlotte (N.C.) Observer (1980-1982)

Editing Roles – Omaha (Neb.) World-Herald (1978-1980)

Email: [email protected]

Social media:

Twitter@RonRuggless

LinkedIn: www.linkedin.com/in/ronruggless

Instagram: @RonRuggless

TikTok: @RonRuggless

 

Subscribe Nation's Restaurant News Newsletters
Get the latest breaking news in the industry, analysis, research, recipes, consumer trends, the latest products and more.