Canadian behemoth franchisor MTY Food Group Inc. agreed to acquire the franchisors of the Counter and Built upscale burger chain brands for an undisclosed amount, MTY announced today. The company expects the deal to close next month. . . The offices of the two limited liability corporations running the franchises will move to Scottsdale, Ariz., MTY said. MTY’s Kahala Group subsidiary, acquired last year, is also based in Scottsdale. Kahala’s holdings include Pinkberry, Cold Stone Creamery and Baja Fresh, among others.
San Francisco’s ever-rising minimum wage—set to hit $15 next year—has restaurant owners asking for the check. “At Least 60 Bay Area Restaurants Have Closed Since September,” read a January headline at the website SFist, which partly blamed “the especially high cost of doing business in SF, with a mandated, rising minimum wage that does not exempt tipped employees.” Another publication, Eater, described the rash of recent closures as a “death march.”
Preliminary findings in the group’s annual report suggest that travel spending in the state was $126.3 billion, up about 3% from 2015. The industry supported more than 1 million jobs, up 3.4% from last year.