The Keg: Difference between revisions
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==Operations== |
==Operations== |
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After being owned solely by founder David Aisenstat |
After being owned solely by co-founder David Aisenstat, on February 4, 2014, he sold 51% to [[Fairfax Financial]], moving the chain into a new legal operating entity called “Keg Restaurants Ltd.”.<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=September 3, 2017 }}</ref> |
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The chain’s right to use '''The Keg''' trademarks & intellectual property comes from a 99-year license & royalty agreement with The Keg Royalties Income Fund, signed in 2002, that collects an annual royalty in the amount of 4% of gross sales for restaurant locations in the Royalty Pool. The Keg Royalties Income Fund was the publicly traded portion of '''The Keg''' group of companies and traded as {{tsx|KEG.UN}} on the [[Toronto Stock Exchange]], other than public shareholders of [[Fairfax Financial]] who, indirectly, through Fairfax's wholly owned investment management subsidiary, were effectively "owners" of the 51% of '''Keg Restaurants Ltd''' that Fairfax owns. '''Keg Restaurants Ltd''' also provided management services to The Keg Royalties Income Fund at no cost as part of its long-term royalty and licensing agreement. |
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These arrangements changed in February, 2018, when the operation became a wholly owned subsidiary of [[Cara Operations]], |
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==See also== |
==See also== |
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Revision as of 02:48, 18 June 2018
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| File:The Keg Steakhouse logo.gif | |
 The Keg at Yonge and Eglinton in Toronto. | |
| Company type | Subsidiary |
|---|---|
| Industry | Restaurants |
| Predecessor | The Keg ‘n Cleaver |
| Founded | North Vancouver, British Columbia (1972) |
| Founder | George Tidball |
| Successor | The Keg |
| Headquarters | , Canada |
Number of locations | over 100 (Canada) as of October 2016 10 (United States) |
Areas served | Canada United States |
Key people | David Aisenstat (former owner, now senior Cara Operations executive and Director) |
| Products | Steak, ribs, chicken, and seafood |
| Owner | Cara Operations |
| Website | kegsteakhouse |
The Keg is a Canadian-owned chain of steakhouse restaurants and bars located in Canada and the United States. Founded by George Tidball with a single location in North Vanvouver, British Columbia in 1971, it has expanded to 106 locations in Canada and the United States as of February 2018, when Canadian food industry giant Cara Operations purchased the chain for $200 million. Former Keg Chairman and 49% (until the sale) owner David Aisenstat has stayed on with Cara as a senior executive.[1]
History
It 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 and today operates in all provinces (excluding Prince Edward Island) and five American states.[2] The Keg is well known for buying up historic manors and turning them into restaurants. 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 CN Station and in New Westminster, British Columbia, which was formerly the city's CPR station.
Operations
After being owned solely by co-founder David Aisenstat, on February 4, 2014, he sold 51% to Fairfax Financial, moving the chain into a new legal operating entity called “Keg Restaurants Ltd.”.[3]
The chain’s right to use The Keg trademarks & intellectual property comes from a 99-year license & royalty agreement with The Keg Royalties Income Fund, signed in 2002, that collects an annual royalty in the amount of 4% of gross sales for restaurant locations in the Royalty Pool. The Keg Royalties Income Fund was the publicly traded portion of The Keg group of companies and traded as TSX: KEG.UN on the Toronto Stock Exchange, other than public shareholders of Fairfax Financial who, indirectly, through Fairfax's wholly owned investment management subsidiary, were effectively "owners" of the 51% of Keg Restaurants Ltd that Fairfax owns. Keg Restaurants Ltd also provided management services to The Keg Royalties Income Fund at no cost as part of its long-term royalty and licensing agreement.
These arrangements changed in February, 2018, when the operation became a wholly owned subsidiary of Cara Operations,
See also
References
- ^ "Owner of Harvey's, Swiss Chalet buying steakhouse chain The Keg for $200M". CBC News. 23 January 2018. Archived from the original on 23 January 2018. Retrieved 23 January 2018.
{{cite news}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ The Keg, Franchise Information Archived 2014-04-09 at the Wayback Machine
- ^ The Keg Royalties Income Fund - Annual Information Form - March 29, 2017 - SEDAR Archived September 3, 2017, at the Wayback Machine
External links
 | This Canada-based restaurant or restaurant chain article is a stub. You can help Wikipedia by expanding it. |
- Companies based in Richmond, British Columbia
- Restaurant chains in Canada
- Economy of the Western United States
- Regional restaurant chains in the United States
- Companies listed on the Toronto Stock Exchange
- Steakhouses
- Restaurants established in 1972
- 1972 establishments in British Columbia
- Canada restaurant stubs