Aegis Brands Inc. (Aegis) has declared its plans to acquire St. Louis Bar & Grill for a reported $50 million. Details of the acquisition were released on September 29.
St. Louis Bar & Grill is a Toronto-based franchised casual dining bar & grill company, operating in more than 70 locations across four provinces. Founded in Toronto in 1992, St. Louis is known for its signature wings, ribs, and garlic dill sauce.
“Brent Poulton and his team have done an exceptional job growing and fine-tuning this brand over the years,” said Steven Pelton, president and CEO of Aegis. “We couldn’t be happier to welcome the brand, the employees, and the franchisees of St. Louis into Aegis. Aegis’ intent is to continue to grow the St. Louis brand across Canada and beyond. I admire the culture and vision of the brand and we intend to build off what has been created. The store-level economics and exciting growth plans allow St. Louis to fit perfectly into Aegis’ plans to grow and create value for shareholders and we expect this acquisition to be accretive in the first year. Mr. Poulton built a company that focused on the fundamentals of the restaurant business. This has resulted in a very healthy network of franchised stores which will serve as a strong foundation upon which to grow.”
The company is also set to open its first location in Brantford, Ont. on October 3rd.
“Brantford has been a top priority for us. It’s a bustling centre and there’s big demand locally. We’re really excited to be in the neighborhood and to welcome guests who know us well, but can now enjoy us in their hometown,” said Royal Nasager, vice president of marketing, St. Louis Bar & Grill.
The new locally owned and operated restaurant will be more than 3,000 square feet of comfortable dining, a state-of-the-art kitchen, and bar with plenty of screens to play a wide variety of sports.