Newlook Capital’s New Taste Partners (NTP), in partnership with Seth Corp., has acquired the La Prep Franchise System, which includes the Ontario Master Franchise and all 52 franchised locations in Canada, as well as Seth’s own brand, Chaska Indian Street Food.
New Taste Partners is a newly established Quick Service Restaurant (QSR) investment fund that provides income and growth. La Prep is its initial investment.
Established in 1980, Montreal based La Prep is an urban concept which offers freshly prepared healthier food alternatives of sandwiches, salads, soups, baked goods, and breakfast options, alongside quality specialty coffees.
“La Prep and Chaska are uniquely positioned to tap into the growing market opportunities in the fresh and ethnic quick service restaurant sector. We already have an additional 6 to 8 openings scheduled for the next 12 months. We are very excited to partner with Naveen and his expert team to take this to the next level,” said Abbas Osman, Chief Investment Officer at Newlook Capital.
“I believe La Prep has great potential for growth and expansion. With my knowledge of the industry, experience, strong leadership, and of course our talented and passionate team, we are ready to take this brand to the next level. People are looking for more now when dining out – they are looking for experience, something both brands offer. My job will be to ensure this experience is maximized through ongoing innovation and improved strategies,” added Naveen Seth.
Burlington, Ontario based Newlook Capital is a private equity firm that currently has 4 industry-specialized funds available to the retail and institutional markets. Investing throughout Canada and the U.S. with a preference for companies that exhibit a solid tangible assets base, Newlook Capital is focused on and current holdings include; multifamily real estate and services in the U.S., industrial services in Canada and the U.S., dental practices, and QSR in Canada.
photo credit: La Prep