Cara Operations (Cara) made a big move yesterday as it acquired Keg Restaurants Ltd. (Keg) for $200 million in a combined cash and stock deal. Vancouver-based Keg is an owner/operator and franchisor of casual dining steakhouse restaurants with locations in both Canada and the United States will now be part of the Cara family of restaurants. Cara is Canada’s largest operator and franchisor of full service restaurants and is the third largest of all restaurant groups in Canada.
Under the deal, Keg’s CEO, David Aisenstat will oversee all higher-end brands including The Bier Markt, the Landing Group and Milestones restaurants. Once the deal is finalized we can expect a shift of their various agencies including media buying and public relations.
