TSX Trading Symbol: "MTY"
MONTREAL, July 27, 2012 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of multiple concepts of quick service restaurants, announced today that its wholly-owned subsidiary MTY Tiki Ming Enterprises Inc. has entered into a license agreement with Produits Alimentaires Berthelet inc. ("Berthelet") to market some of its products in retail stores in Canada.
The license agreement covers three of MTY's brands, including Thaï Express and two other brands to be determined at a later date, and extends over an initial term of six years. The first products are expected to appear gradually in retail stores within the next six to nine months.
"MTY is very proud to have signed this agreement with a very solid partner, who has extensive experience in marketing licensed products into retail stores" says Mr. Stanley Ma, President, Chairman and CEO of MTY. "MTY felt it was the right time for some of its brands to leverage the recognition they have gained in the quick service restaurant industry and enhance their presence in consumers' food purchases. This is a very important market that MTY had not gone into in the past."
"Produits Alimentaires Berthelet, a leader in the food industry in Quebec, is extremely proud to team up with MTY to market its products on the retail market using some of MTY's best known brands", said Danny Berthelet, President of Berthelet. "The expertise of Berthelet in marketing products derived from the restaurant industry, combined with the strength and recognition of MTY's brands, will enable Berthelet to successfully develop a product line that will correspond to consumer's needs and desires in a segment that is rapidly growing".
Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Company's Management Discussion and Analysis, which can be found on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
MTY Food Group Inc.
Stanley Ma, Chairman, President & CEO
SOURCE: MTY FOOD GROUP INC.
please contact Jean-Francois Dube, Investor Relations at 1-450-226-8475 or by email at firstname.lastname@example.org or visits our website: www.mtygroup.com or visit SEDAR's website at www.sedar.com under the Company's name.