The Keg: Difference between revisions

The Keg Steakhouse and Bar
	The Keg at Yonge and Eglinton in Toronto.
Company type	Subsidiary
Industry	Restaurants
Predecessor	The Keg and Cleaver
Founded	North Vancouver, British Columbia; (1971; 53 years ago)
Founder	George Tidball
Successor	The Keg
Headquarters	Richmond, British Columbia, Canada
Number of locations	160 (February 2018)
Areas served	Canada ; United States
Key people	David Aisenstat; (former owner, now senior Recipe Unlimited executive and Director)
Products	Steak, ribs, chicken, and seafood
Owner	Recipe Unlimited
Website	thekeg.com

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The Keg is a Canadian-owned chain of steakhouse restaurants and bars in Canada and the United States. The original "The Keg and Cleaver" restaurant was founded in 1971 by George Tidball in North Vancouver, British Columbia. By February 2018, The Keg had expanded to 160 locations in Canada and the United States, when Canadian food industry giant Cara Operations (now known as Recipe Unlimited) purchased the chain for $200 million, from then owners David Aisenstat (49%) and Fairfax Financial (51%). It is also known as The Keg Steakhouse + Bar.

History

The Keg on King Street West in Downtown Toronto's Fashion District.

The company was founded in 1971 in North Vancouver, British Columbia as The Keg 'n Cleaver by George Tidball at one very small, downstairs location in an old industrial building in the Moodyville area of lower Lonsdale. Today it operates in nine provinces (excluding only Prince Edward Island) and five American states.^[1]

The Keg is well known for buying up historic properties, refurbishing them and turning them into restaurants. Examples of this are the Keg Mansion in Toronto, and the Keg Manor at the Maplelawn Estate in Ottawa. The Downtown Winnipeg location opened in 1975 as The Keg and Cleaver in the former Hudson's Bay Company Garage on Garry Street, where it still operates today.^[2] Other notable heritage restorations are the Keg in Kamloops, British Columbia, which was a CN Station; and in New Westminster, British Columbia, formerly the city's CPR station. The Old Strathcona location, restored and opened in Edmonton, Alberta just three years after Tidball opened the first Keg, was built in 1912 as the Scona Apartments and Scona Garage, one of the earliest automobile sales and service locations in that city. This location has since closed. ^[3]

Operations

The Keg's financial and physical operations have been managed by David Aisenstat for a number of years.^[4] The restaurants operated as Keg Restaurants Ltd. (KRL), with Aisenstat involved in selling to the British firm Whitbread PLC in 1987.^[4] In 1997, Aisenstat arranged financing a purchased 100% of KRL back from Whitbread.^[4]

In 2002, KRL created The Keg Royalties Income Fund, sold through a public offering on the Toronto Stock Exchange, trading as TSX: KEG.UN. The Fund owns the trademarks and intellectual property of "The Keg", and receives an annual royalty of 4% of gross sales for restaurant locations in the Royalty Pool. KRL kept a 99-year license to use the name "The Keg"; it also provided management services to The Keg Royalties Income Fund at no cost as part of its long-term royalty and licensing agreement. The Fund's creation presented the first opportunity for the public to trade in any portion of The Keg group of companies, which were previously fully private.

On February 4, 2014, Aisenstat sold 51% of his private holdings in The Keg to Fairfax Financial, a publicly traded Canadian holding company.^[5] The transaction also introduced another indirect way for the public to invest in The Keg, by investing in Fairfax Financial.

On January 23, 2018, it was announced that Canadian food industry giant Cara Operations was purchasing KRL for $200 million.^[6]^[4] The deal closed in February 2018,^[7] with Fairfax Financial and David Aisenstat sharing $105 million plus 3.8 million Cara subordinate voting shares.^[4] Aisenstat joined Cara's board of directors^[7] and assumed executive oversight of the higher-end brands within the 19 restaurant chains then held by Cara.^[4] Cara also announced that the acquisition had prompted the company to change its own name,^[6] confirming on May 10, 2018 that it would be renamed Recipe Unlimited Corporation.^[7]

References

^ The Keg, Franchise Information Archived 2014-04-09 at the Wayback Machine
^ "115 Garry Street - Hudson's Bay Company Garage" (PDF). City of Winnipeg. May 2018.
^ "Scona Garage & Apartments". Edmonton Heritage Council. Retrieved 2018-06-18.
^ ^a ^b ^c ^d ^e ^f Deschamps, Tara (2018-01-25). "The Keg steakhouse chain to be sold to Swiss Chalet owner Cara Operations in $200M deal". The Canadian Press. Global News. Retrieved 2018-06-18.
^ The Keg Royalties Income Fund - Annual Information Form - March 29, 2017 - SEDAR Archived 2017-09-03 at the Wayback Machine
^ ^a ^b Read, Meegan; Staff Writers (2018-01-23). "Owner of Harvey's, Swiss Chalet buying steakhouse chain The Keg for $200M". CBC News. Archived from the original on 2018-01-23. Retrieved 2018-06-18.
^ ^a ^b ^c "Cara Reports Q1 2018 Results Led by Solid Same Store Sales Growth". CNW. 2018-05-10. Archived from the original on 2018-06-08. Retrieved 2018-06-18.

External links

Official website

[1] The Keg, Franchise Information Archived 2014-04-09 at the Wayback Machine

[2] "115 Garry Street - Hudson's Bay Company Garage" (PDF). City of Winnipeg. May 2018.

[3] "Scona Garage & Apartments". Edmonton Heritage Council. Retrieved 2018-06-18.

[Global-4] ^ ^a ^b ^c ^d ^e ^f Deschamps, Tara (2018-01-25). "The Keg steakhouse chain to be sold to Swiss Chalet owner Cara Operations in $200M deal". The Canadian Press. Global News. Retrieved 2018-06-18.

[5] The Keg Royalties Income Fund - Annual Information Form - March 29, 2017 - SEDAR Archived 2017-09-03 at the Wayback Machine

[CBC-6] Read, Meegan; Staff Writers (2018-01-23). "Owner of Harvey's, Swiss Chalet buying steakhouse chain The Keg for $200M". CBC News. Archived from the original on 2018-01-23. Retrieved 2018-06-18.

[CNW-7] "Cara Reports Q1 2018 Results Led by Solid Same Store Sales Growth". CNW. 2018-05-10. Archived from the original on 2018-06-08. Retrieved 2018-06-18.

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@@ Line 2: / Line 2: @@
 {{for|the ''That '70s Show'' episode|The Keg (That '70s Show episode)}}
+{{Multiple issues|
 {{primary sources|date=June 2016}}
+{{Peacock|date=March 2024}}
+}}
 {{Infobox company
 | name = The Keg Steakhouse and Bar
-| logo = The_Keg_Steakhouse_logo.gif
+| logo = The Keg logo.svg
 | logo_size =
+| logo_upright = 0.7
 | image = File:The Keg at Yonge and Eglinton in Toronto.jpg
 | image_size = 250px
-| image_caption = {{small|The Keg at [[Yonge and Eglinton]] in Toronto.}}
+| image_caption = The Keg at [[Yonge and Eglinton]] in Toronto.
 | type = [[Subsidiary]]
 | predecessor = The Keg and Cleaver
@@ Line 16: / Line 20: @@
 | founder = George Tidball
 | location_city = [[Richmond, British Columbia|Richmond]], [[British Columbia]]
-| location_country = Canada
+| location_country = [[Canada]]
 | num_locations = 160
 | num_locations_year = February 2018
@@ Line 25: / Line 29: @@
 | owner = [[Recipe Unlimited]]
 | num_employees =
-| homepage = {{URL|http://thekeg.com}}
+| homepage = {{URL|https://thekeg.com/}}
 }}
-'''The Keg''' is a Canadian-owned chain of [[steakhouse]] restaurants and bars located in [[Canada]] and the [[United States]]. The original "The Keg and Cleaver" restaurant was founded by George Tidball, in 1971, at a location in [[North Vancouver (city)|North Vancouver, British Columbia]]. By February 2018, The Keg had expanded to 160 locations in Canada and the United States, when Canadian food industry giant Cara Operations (now known as [[Recipe Unlimited]]) purchased the chain for $200 million, from then owners David Aisenstat (49%) and [[Fairfax Financial]] (51%). Aisenstat had been the sole owner from 1997 until 2014.
+'''The Keg''' is a Canadian-owned chain of [[steakhouse]] restaurants and bars in [[Canada]] and the [[United States]]. The original "The Keg and Cleaver" restaurant was founded in 1971 by George Tidball in [[North Vancouver (city)|North Vancouver]], [[British Columbia]]. By February 2018, The Keg had expanded to 160 locations in Canada and the United States, when Canadian food industry giant Cara Operations (now known as [[Recipe Unlimited]]) purchased the chain for $200 million, from then owners David Aisenstat (49%) and [[Fairfax Financial]] (51%). It is also known as The Keg Steakhouse + Bar.
 ==History==
 [[File:TheKeg560KingStreetWest.jpg|left|thumb|The Keg on King Street West in [[Downtown Toronto]]'s [[Fashion District, Toronto|Fashion District]].]]
-It was founded in 1971 in [[North Vancouver (city)|North Vancouver]], [[British Columbia]] as ''The Keg 'n Cleaver'' by George Tidball at one very small, downstairs location in an old industrial building in the Moodyville area of lower Lonsdale and today operates in nine [[province]]s (excluding only [[Prince Edward Island]]) and five American [[U.S. state|states]].<ref>[http://www.kegsteakhouse.com/en/franchise/overview/ The Keg, Franchise Information] {{webarchive|url=https://web.archive.org/web/20140409022535/http://www.kegsteakhouse.com/en/franchise/overview/ |date=2014-04-09}}</ref>
+The company was founded in 1971 in [[North Vancouver (city)|North Vancouver]], [[British Columbia]] as ''The Keg 'n Cleaver'' by George Tidball at one very small, downstairs location in an old industrial building in the Moodyville area of lower Lonsdale. Today it operates in nine [[province]]s (excluding only [[Prince Edward Island]]) and five American [[U.S. state|states]].<ref>[http://www.kegsteakhouse.com/en/franchise/overview/ The Keg, Franchise Information] {{webarchive|url=https://web.archive.org/web/20140409022535/http://www.kegsteakhouse.com/en/franchise/overview/ |date=2014-04-09}}</ref>
-The Keg is well known for buying up historic properties, refurbishing them and turning them into [[restaurant]]s. Examples of this are the [[Keg Mansion]] in [[Toronto]], and the Keg Manor at the [[Maplelawn]] Estate in [[Ottawa]]. Also notable as heritage restorations are the Kegs in [[Kamloops]], [[British Columbia]], which was a [[Kamloops railway station|CN Station]] and in [[New Westminster]], [[British Columbia]], which was formerly the city's [[Canadian Pacific Railway|CPR station]].  The [[Old Strathcona]] location, restored and opened in [[Edmonton|Edmonton, Alberta]] just three years after Tidball opened the first Keg, was built in 1912 as the Scona Apartments and Scona Garage, one of the earliest automobile sales and service locations in that city. This location has since closed. <ref>{{cite web |url=http://www.edmontonmapsheritage.ca/location/scona-garage-apartments/ |title=Scona Garage & Apartments |work=Edmonton Heritage Council |accessdate=2018-06-18}}</ref>
+The Keg is well known for buying up historic properties, refurbishing them and turning them into [[restaurant]]s. Examples of this are the [[Keg Mansion]] in [[Toronto]], and the Keg Manor at the [[Maplelawn]] Estate in [[Ottawa]]. The [[Downtown Winnipeg]] location opened in 1975 as The Keg and Cleaver in the former [[Hudson's Bay Company]] Garage on Garry Street, where it still operates today.<ref>{{Cite web |date=May 2018 |title=115 Garry Street - Hudson's Bay Company Garage |url=https://legacy.winnipeg.ca/ppd/Documents/Heritage/HeritageResourcesReports/Garry-115-long.pdf |website=City of Winnipeg }}</ref> Other notable heritage restorations are the Keg in [[Kamloops]], [[British Columbia]], which was a [[Kamloops railway station|CN Station]]; and in [[New Westminster]], [[British Columbia]], formerly the city's [[Canadian Pacific Railway|CPR station]]. The [[Old Strathcona]] location, restored and opened in [[Edmonton|Edmonton, Alberta]] just three years after Tidball opened the first Keg, was built in 1912 as the Scona Apartments and Scona Garage, one of the earliest automobile sales and service locations in that city. This location has since closed. <ref>{{cite web |url=http://www.edmontonmapsheritage.ca/location/scona-garage-apartments/ |title=Scona Garage & Apartments |work=Edmonton Heritage Council |accessdate=2018-06-18}}</ref>
 {{clear|left}}
@@ Line 41: / Line 45: @@
 [[File:The Keg in Moncton.jpg|thumb|left|100th location of The Keg was built in [[Moncton|Moncton, New Brunswick]] in 2007.]]
 [[File:TheKegRichmondHill.jpg|thumb|left|The Keg in Richmond Hill, Ontario]]
-Financial and physical operations have been managed by David Aisenstat for a number of years.<ref name=Global>{{cite news |url=https://globalnews.ca/news/3981978/the-keg-swiss-chalet-cara-operations/ |title=The Keg steakhouse chain to be sold to Swiss Chalet owner Cara Operations in $200M deal |first=Tara |last=Deschamps |work=[[The Canadian Press]] |publisher=[[Global News]] |date=2018-01-25 |accessdate=2018-06-18}}</ref> The restaurants operated as Keg Restaurants Ltd. (KRL), with Aisenstat involved in selling to the British firm [[Whitbread|Whitbread PLC]] in 1987.<ref name=Global/>  In 1997, Aisenstat arranged financing a purchased 100% of KRL back from Whitbread.<ref name=Global/>
+The Keg's financial and physical operations have been managed by David Aisenstat for a number of years.<ref name=Global>{{cite news |url=https://globalnews.ca/news/3981978/the-keg-swiss-chalet-cara-operations/ |title=The Keg steakhouse chain to be sold to Swiss Chalet owner Cara Operations in $200M deal |first=Tara |last=Deschamps |work=[[The Canadian Press]] |publisher=[[Global News]] |date=2018-01-25 |accessdate=2018-06-18}}</ref> The restaurants operated as Keg Restaurants Ltd. (KRL), with Aisenstat involved in selling to the British firm [[Whitbread|Whitbread PLC]] in 1987.<ref name=Global/>  In 1997, Aisenstat arranged financing a purchased 100% of KRL back from Whitbread.<ref name=Global/>
-In 2002, KRL created The Keg Royalties Income Fund, sold through a public offering on the [[Toronto Stock Exchange]], trading as {{tsx|KEG.UN}}. The Fund owns the trademarks & intellectual property of "The Keg", and receives an annual royalty in the amount of 4% of gross sales for restaurant locations in the Royalty Pool. KRL kept a 99-year license to use "The Keg" as the name of the restaurants. KRL also provided management services to The Keg Royalties Income Fund at no cost as part of its long-term royalty and licensing agreement. The creation of The Keg Royalties Income Fund presented the first opportunity for the public to trade in any portion of The Keg group of companies, which had been fully private until that time.
+In 2002, KRL created The Keg Royalties Income Fund, sold through a public offering on the [[Toronto Stock Exchange]], trading as {{tsx|KEG.UN}}. The Fund owns the trademarks and intellectual property of "The Keg", and receives an annual royalty of 4% of gross sales for restaurant locations in the Royalty Pool. KRL kept a 99-year license to use the name "The Keg"; it also provided management services to The Keg Royalties Income Fund at no cost as part of its long-term royalty and licensing agreement. The Fund's creation presented the first opportunity for the public to trade in any portion of The Keg group of companies, which were previously fully private.
 On February 4, 2014, Aisenstat sold 51% of his private holdings in The Keg to [[Fairfax Financial]], a publicly traded Canadian [[holding company]].<ref>[http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00017701 The Keg Royalties Income Fund - Annual Information Form - March 29, 2017 - SEDAR] {{webarchive|url=https://web.archive.org/web/20170903072111/http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00017701 |date=2017-09-03}}</ref> The transaction also introduced another indirect way for the public to invest in The Keg, by investing in Fairfax Financial.
-On January 23, 2018, it was announced that Canadian food industry giant Cara Operations was purchasing KRL for $200 million.<ref name=CBC>{{cite news |url=http://www.cbc.ca/news/business/the-keg-cara-operations-1.4499652 |title=Owner of Harvey's, Swiss Chalet buying steakhouse chain The Keg for $200M  |first1=Meegan |last1=Read |last2=Staff Writers |work=[[CBC News]] |date=2018-01-23 |accessdate=2018-06-18 |url-status=live|archiveurl=https://web.archive.org/web/20180123145111/http://www.cbc.ca/news/business/the-keg-cara-operations-1.4499652|archivedate=2018-01-23}}</ref><ref name=Global/> The deal closed in February 2018,<ref name=CNW>{{Cite news |url=https://www.newswire.ca/news-releases/cara-reports-q1-2018-results-led-by-solid-same-store-sales-growth-682335861.html |title=Cara Reports Q1 2018 Results Led by Solid Same Store Sales Growth |work=[[CNW Group|CNW]] |date=2018-05-10 |accessdate=2018-06-18 |url-status=live |archiveurl=https://web.archive.org/web/20180608163926/https://www.newswire.ca/news-releases/cara-reports-q1-2018-results-led-by-solid-same-store-sales-growth-682335861.html |archivedate=2018-06-08}}</ref> with Fairfax Financial and David Aisenstat sharing $105 million plus 3.8 million Cara subordinate voting shares.<ref name=Global/> Aisenstat joined the Board of Directors of Cara,<ref name=CNW/> and assumed executive oversight of the higher-end brands within the 19 different restaurant chains then held by Cara.<ref name=Global/> Cara also announced that the acquisition had prompted the company to change its own name,<ref name=CBC/> confirming on May 10, 2018, that Cara Operations would be renamed Recipe Unlimited Corporation.<ref name=CNW/>
+On January 23, 2018, it was announced that Canadian food industry giant Cara Operations was purchasing KRL for $200 million.<ref name=CBC>{{cite news |url=http://www.cbc.ca/news/business/the-keg-cara-operations-1.4499652 |title=Owner of Harvey's, Swiss Chalet buying steakhouse chain The Keg for $200M  |first1=Meegan |last1=Read |last2=Staff Writers |work=[[CBC News]] |date=2018-01-23 |accessdate=2018-06-18 |url-status=live|archiveurl=https://web.archive.org/web/20180123145111/http://www.cbc.ca/news/business/the-keg-cara-operations-1.4499652|archivedate=2018-01-23}}</ref><ref name=Global/> The deal closed in February 2018,<ref name=CNW>{{Cite news |url=https://www.newswire.ca/news-releases/cara-reports-q1-2018-results-led-by-solid-same-store-sales-growth-682335861.html |title=Cara Reports Q1 2018 Results Led by Solid Same Store Sales Growth |work=[[CNW Group|CNW]] |date=2018-05-10 |accessdate=2018-06-18 |url-status=live |archiveurl=https://web.archive.org/web/20180608163926/https://www.newswire.ca/news-releases/cara-reports-q1-2018-results-led-by-solid-same-store-sales-growth-682335861.html |archivedate=2018-06-08}}</ref> with Fairfax Financial and David Aisenstat sharing $105 million plus 3.8 million Cara subordinate voting shares.<ref name=Global/> Aisenstat joined Cara's board of directors<ref name=CNW/> and assumed executive oversight of the higher-end brands within the 19 restaurant chains then held by Cara.<ref name=Global/> Cara also announced that the acquisition had prompted the company to change its own name,<ref name=CBC/> confirming on May 10, 2018 that it would be renamed Recipe Unlimited Corporation.<ref name=CNW/>
 ==See also==
@@ Line 57: / Line 61: @@
 ==External links==
 {{Commonscat}}
-*{{Official website|http://www.kegsteakhouse.com}}
+*{{Official website|https://thekeg.com/}}
 {{Recipe Unlimited}}
@@ Line 72: / Line 76: @@
 [[Category:1972 establishments in British Columbia]]
 [[Category:2018 mergers and acquisitions]]
+[[Category:Herb Capozzi]]

v t e Recipe Unlimited
Restaurants	Bier Markt Casey’s East Side Mario's Franworks Group Harvey's Kelseys Original Roadhouse Montana's BBQ & Bar New York Fries The Pickle Barrel St-Hubert Swiss Chalet The Keg
Former	Cara Air Terminal Restaurant Division (Sold to gategroup in 2010) Milestones Grill and Bar (Sold to Foodtastic in 2021) Prime Restaurants (Sold to Foodtastic in 2022)