Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, February 19, 2021

Article Excerpt

AEGIS BRANDS INC., $1.36, symbol AEG on Toronto, is the owner of a portfolio of consumer brands that includes Second Cup Coffee Co., Bridgehead Coffee, and Hemisphere Cannabis Co. In September 2020, the company changed its name to Aegis Brands from Second Cup. Its stock symbol also changed to AEG from SCU. That reflected Second Cup’s announcement in November 2019 that it planned to establish itself as a holding company to facilitate acquisitions in the foodservice, coffee and cannabis segments. On February 8, 2021, Aegis announced the sale of Second Cup Coffee Co. to Quebec-based Foodtastic Inc. That privately held firm is an operator of multiple restaurant concepts including Big Rig Kitchen & Brewery, Chocolato, La Belle & La Boeuf, and several others. Foodtastic is backed by Oaktree Capital, which is majority-owned by Brookfield Asset Management (symbol BAM.A on Toronto). It has over 130 franchised restaurants that generate $240 million in annual sales. Aegis will get $14 million in cash from the sale, along…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.