MTY Food Pauses M&A, Shifts Focus to Shareholder Returns
Dow Jones
2 hours ago
0727 ET - MTY Food Group is scaling back its acquisitions and diverting those funds to shareholders. The quick-service restaurant franchisor says that it will focus on its existing portfolio brands instead of buying up new targets. "While mergers and acquisitions are part of MTY's DNA, the Board of Directors believes the best opportunity available today is MTY itself," the company says. MTY Food says that there are few acquisition targets currently available that offer the value and quality it looks for in deals "so for the moment, the Company will focus on returning capital directly to shareholders by buying back MTY's own shares for cancellation and paying an increased dividend."
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