CenterOak Partners LLC, a Dallas-based private equity firm, has announced its portfolio company Wetzel’s Pretzels has entered into a definitive agreement to be acquired by MTY Franchising USA, Inc., a wholly owned subsidiary of MTY Food Group Inc. for a cash purchase price of $207 million. The transaction is subject to customary closing conditions.
The Montreal-based MTY Franchising USA, Inc. recently acquired the take-and-bake pizza brand Papa Murphy's, as well. The Wetzel's Pretzels deal is its second U.S. acquisition this year; it also acquired BBQ Holdings, which owns Famous Dave's, Granite City, and Village Inn.