Health-focused fast casual Grabbagreen is under agreement to be acquired by MTY Food Group for $2.75 million.
The chain has 27 units, all but one of which are run by franchisees.
Founders Keely Newman and Kelley Bird launched the brand in 2013, when they were looking for better-for-you options for their kids. The menu features smoothies, juices, salads and bowls made without preservatives, GMOs or hormones.
"Grabbagreen is a young and trendy brand with solid growth potential," Jeff Smit, chief operating officer of MTY's U.S. operations, said in a statement. "We are extremely happy to add this concept to our portfolio."
The acquisition is slated to close in the next 45 days, according to the release. Once the transaction is final, MTY plans to consolidate Grabbagreen’s corporate operations and run the franchising platform from its U.S. headquarters in Scottsdale, Ariz.
MTY Food Group, a restaurant franchisor based in Canada, owns a number of U.S. brands, including Blimpie, Cold Stone Creamery and Pinkberry.
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