TORONTO (April 15, 2025) — Jacobs & Co. Steakhouse - one of Canada’s most acclaimed restaurants - is entering an exciting new era. Recognized by the Michelin Guide and the only Toronto steakhouse named to the globally respected World’s 101 Best Steak Restaurants list, Jacobs & Co. will move from its legendary Brant Street location to 81 Bay Street at CIBC SQUARE. 

 The final dinner service at the iconic Brant Street location will take place on April 19, with the official reopening at CIBC SQUARE set for May 14. As part of this exciting evolution, Jacobs & Co. will introduce lunch service for the first time, beginning May 26 - offering an elevated midday experience in the heart of the city’s Financial District. 

 For nearly two decades,  has defined premium dining in Canada, becoming a cornerstone of the city’s culinary landscape. Now, nestled between Scotiabank Arena and Union Station, the new location places the restaurant at the centre of Toronto’s vibrant financial core. The move introduces a reimagined space that artfully blends modern elegance with the signature touches that have made Jacobs & Co. a favourite among discerning diners. 

“This move gives us the opportunity to thoughtfully reimagine the Jacobs experience in a space built entirely for who we are today - and the journey ahead,” said Gus Kosta Giazitzidis, Managing Director. “It’s a chance to create a new home for Jacobs, while enhancing everything our guests have come to love with even more intention.” 

 The new Jacobs & Co. has been designed to honour its legacy while introducing thoughtful enhancements throughout. Loyal guests will find comfort in enduring signatures like the tableside Caesar salad, the house-made “take-home” Jacobs coffee cake muffins, and the beloved piano bar, where live music remains a defining element. The dry-ageing room—a hallmark of the Jacobs experience—continues to showcase meticulously aged premium cuts on-site. 

 Complementing these classics are new features that reflect the evolution of Jacobs & Co. The restaurant now boasts panoramic city views, a private patio, an expanded raw bar, and three versatile private dining rooms designed for intimate, luxurious experiences. The acclaimed wine program remains a foundation of the offering, featuring one of the most dynamic cellars in the country. 

KEY DATES

Stay tuned for more details about the Jacobs & Co. experience, the design of its new home at CIBC SQUARE, and exciting additions coming soon. Follow along on our  and . 

 For reservations please visit . 

MONTREAL, April 11, 2025 (GLOBE NEWSWIRE) -- MTY Food Group Inc. (“MTY”, “MTY Group” or the “Company”) (TSX: MTY), one of the largest franchisors and operators of multiple restaurant concepts worldwide, reported today financial results for its first quarter of fiscal 2025 ended February 28, 2025 and declared a quarterly dividend of 33.0¢ per share, payable on May 15, 2025 to shareholders registered in the Company’s records at the end of the business day on May 1, 2025.

"Our same-store sales held relatively stable, once adjusted for the leap year impact — demonstrating the strength and resilience of our portfolio,” said Eric Lefebvre, CEO of MTY. “While adverse weather conditions temporarily pressured performance, particularly in our US frozen treats segment, the start of Q2 signals a return to more normal operating conditions. Canada continues to perform consistently, underscoring the stability of our operations.”

"I believe this quarter’s modest decline in unit count is a temporary setback, rather than a trend,” Lefebvre continued. “Delays in openings are challenges we consistently navigate, particularly in Q1, which has historically been our slowest quarter for net openings. Our development pipeline for Q2, Q3 and beyond is robust, and we remain fully committed to expanding our footprint over the medium to long term.”

"Once again, this quarter showcased our ability to generate strong free cash flow growth, reinforcing the financial strength and asset light nature our business. While we remain disciplined in evaluating strategic acquisition opportunities that align with our long-term vision, we continue to see significant value in share repurchases at current levels as a highly accretive use of capital,” Lefebvre noted.

(1) This is a non-GAAP measure. Please refer to the “Non-GAAP Measures” section at the end of this press release.
(2) This is a non-GAAP ratio. Please refer to the “Non-GAAP Ratios” section at the end of this press release.
(3) This is a supplementary financial measure. Please refer to the “Supplementary Financial Measures” section at the end of this press release.

FIRST QUARTER RESULTS

Network

• At the end of the first quarter of 2025, MTY’s network had 7,047 locations in operation, of which 6,791 were franchised or under operator agreements and 256 were corporate-owned. The geographical split among MTY’s locations remained stable year-over-year at 57% in the US, 35% in Canada and 8% International.

• During the first quarter of 2025, MTY’s network opened 70 locations (Q1 2024 – 75 locations) and closed 102 others (Q1 2024 – 79 locations).

• System sales increased by 2% year-over-year to reach $1.36 billion in the first quarter of 2025 compared to $1.33 billion in prior year. The US segment achieved overall sales growth of 3%, due to a positive impact of foreign exchange rates while Canada achieved organic growth of 1% compared to prior year.

• Same-store sales(1) decreased 1.5% year-over-year in the first quarter. By region, Canada fell 0.4%, the US dropped 2.2%, and International declined 3.5%. The 2025 results were negatively impacted by the 2024 leap year, which added an extra sales day. This impact was not reflected in same-store sales calculations.

(1) This is a supplementary financial measure. Please refer to the “Supplementary Financial Measures” section at the end of this press release.

Financial

• Company revenue increased by 2% to reach $284.8 million in the first quarter, driven by strong performance in the corporate segment, both in Canada and the US.

• Normalized adjusted EBITDA, which excludes acquisition-related expenses and SAP project implementation costs, increased by $0.7 million year-over-year to reach $60.2 million in the first quarter of 2025 primarily due to changes in recurring revenue and expense streams.

• Net income attributable to owners totaled $1.7 million, or $0.07 per share ($0.07 per diluted share), in the first quarter compared to $17.3 million, or $0.71 per share ($0.71 per diluted share), for the same period in 2024. The year-over-year decrease can mainly be attributed to foreign exchange losses of $21.5 million taken primarily on intercompany loans which was offset by a gain on translation on the unaudited condensed interim consolidated statement of comprehensive income.

Segment Performance

• The franchise segment saw stable revenues year-over-year driven by favorable foreign exchange, offset by lower organic system sales in the US along with a slight drop in turnkey projects in Canada. Operating expenses were up 2% driven by higher wages and a $2.0 million foreign exchange headwind. Normalized adjusted EBITDA was up 1%, with margins remaining relatively stable at 47%.

• Corporate segment revenues increased by 3% to $125.9 million, due mainly to increased corporate locations in both Canada and the US. Operating expenses were also higher given costs associated with the greater number of stores. Normalized adjusted EBITDA came in at $12.2 million, relatively stable year-over-year. Margins were in line with last year at 10%.

• Food processing, distribution and retail revenues grew by 7% to $38.2 million, primarily due to stronger sales in the Canadian retail segment, including a $3.5 million improvement from the Company’s signature Baton Rouge ribs, partially offset by a change in Mikes frozen pizza sales. Normalized adjusted EBITDA was $4.0 million, up from $3.7 million last year, with margins holding steady at 10%.

LIQUIDITY AND CAPITAL RESOURCES

• In the first quarter of 2025, cash flows generated by operating activities amounted to $58.8 million compared to $54.2 million in the first quarter of 2024. The increase is mainly due to lower interest paid on long-term debt, resulting from ongoing repayments and favourable market interest rates that reduced overall borrowing costs.

• MTY reimbursed $8.7 million of its long-term debt, paid $7.7 million in dividends to shareholders, and repurchased 287,400 shares for a total consideration of $13.8 million in the first quarter of 2025.

• As at February 28, 2025, MTY had $68.8 million of cash on hand and long-term debt of $712.7 million, mainly in the form of bank facilities and promissory notes on acquisitions. The Company also had a revolving credit facility with an authorized amount of $900 million, of which CAD$270 million and US$303 million had been drawn at quarter-end.

NEAR-TERM OUTLOOK

• In Q1, same-store sales faced pressure from extreme weather conditions, particularly in the US. However, Q2 is off to a better start, with more normalized basket and traffic trends across the Company’s geographies. While that momentum is encouraging , the Company is also prepared for potential headwinds as consumers adjust to the impacts of the recently announced tariffs. As the Company navigates these potential headwinds, management remains focused on the factors within its control – driving menu innovation, maintaining product quality and consistency, enhancing both online and in-store customer experiences, and reinforcing the business’ strong value proposition.

• The pipeline of future locations remains strong. Management anticipates an improvement in the pace of openings in Q2 and Q3. This is supported by favorable seasonal trends and continued strong demand for our brands, especially some of our largest brands. While it remains mindful of continued potential delays, management is encouraged by the strong demand it is seeing from some of its new and existing franchisees.

• The tariff landscape remains fluid and management is actively monitoring developments while implementing mitigation strategies. In both Canada and the US, the Company primarily sources products domestically, which helps limit the potential exposure. While we remain vigilant, we are confident in our ability to navigate potential impacts through our strong supply chain and procurement capabilities, strategic menu adjustments, and, when necessary, pricing actions.

• For 2025, management expects stability in normalized adjusted EBITDA margins across all three of its segments, though the Company may experience seasonal fluctuations in corporate store margins. We also expect capex to be lower than prior year, resulting in a positive impact to free cash flows.Looking further ahead, MTY remains optimistic about its ability to drive margin improvement through positive unit growth, enhanced efficiencies, and an ongoing reduction in the number of less profitable corporate stores.

DIVIDEND PAYMENT

On April 11, 2025, MTY declared a quarterly dividend payment of $0.33 per common share. The dividend will be paid on May 15, 2025, to shareholders registered in the Company's records at the end of the business day on May 1, 2025.

CONFERENCE CALL

The MTY Group will hold a conference call to discuss its results on April 11, 2025, at 8:30 AM Eastern Time. All interested parties can instantly join the call by phone, by following the URL https://emportal.ink/3Rwxc2e to easily register and be connected into the conference call automatically or the conventional method by dialing 1-416-945-7677 or 1-888-699-1199 with the conference identification of 51342#. Parties unable to call in at this time may access a recording by calling 1-888-660-6345 (North American Toll Free) or 1-289-819-1450 (International participants) and entering the passcode 51342#.

Sherwood Park, Alberta, April 11, 2025 (GLOBE NEWSWIRE) -- is turning up the heat on its international momentum – and Sherwood Park is next in line to experience the flavor. As part of its growing presence in Canada, the world’s largest barbecue concept is bringing its iconic, Texas-style barbecue to a brand-new location opening soon at 11 Athabascan Avenue #160, Sherwood Park, AB T8A 6H2.

With 866 locations across eight concepts worldwide, Dickey’s is building on its Alberta success by teaming up with local entrepreneurs Nabeil Moussa and Ahmad Arwell to bring its signature slow-smoked flavor to Sherwood Park. Already beloved in Calgary and Leduc, the brand’s arrival in Sherwood marks another exciting step in sharing authentic barbecue with communities across Canada.

“Expanding into Sherwood Park is an exciting move for Dickey’s and a big win for barbecue lovers in Alberta,” said , CEO of Dickey’s Barbecue Restaurants, Inc. “We’re thrilled to partner with Nabeil and Ahmad, whose dedication to quality and community matches everything we stand for. Together, we’re not just serving barbecue – we’re delivering an experience.”

From savory, pit-smoked meats to southern-style sides and sandwiches stacked high, the Sherwood Park location will offer dine-in, takeout, delivery and customizable catering for events of all sizes. Whether it’s a corporate lunch, birthday bash or backyard celebration, Dickey’s catering brings the flavor and the fun.

“We’re fired up to bring the Dickey’s experience to Sherwood Park,” said , CEO of Dickey’s Barbecue Pit. “Every time we open a new store, we open a new door to connection, tradition and incredible food. Canada is hungry for bold, authentic barbecue and we’re ready to deliver – right to your table or your next event.”

The team is hard at work preparing a grand opening celebration packed with giveaways, special offers and family-friendly fun. More details will be released soon but one thing is certain: Sherwood Park is about to get smokin’.

For updates on the opening and all things barbecue, visit

TORONTO, ON – April 10, 2025 - Restaurants Canada celebrated 80 years of its RC Show this week, welcoming hospitality and foodservice professionals back to its annual three-day event at Toronto’s Enercare Centre. This year’s show, which took place from April 7-9 brought together an impressive number of Canada’s leading hospitality and foodservice professionals and industry leaders to drive opportunities and fuel industry growth.

"This year, we celebrated the 80th anniversary of RC Show, a milestone that highlights the sheer size, strength, resilience, and collaboration of our industry," said Kelly Higginson, President and CEO of Restaurants Canada. "Together, we’ve built tremendous momentum, and it’s being recognized. We were honored to have Premier Ford, and many Cabinet Ministers join us at the opening, emphasizing the sector's importance to the economy and the communities we serve. RC Show fuels our industry forward with innovative ideas, technologies, and trends, while supporting our advocacy efforts at Restaurants Canada to create vibrant, thriving foodservice communities."

Ontario Premier Doug Ford and Finance Minister Peter Bethlenfalvy delivered opening remarks at the RC Show’s Opening Ceremony. The Premier took the opportunity to reiterate the Ontario government's commitment to increase the LCBO wholesale discount from 10% to 15% to support foodservice businesses and the nearly 500,000 Ontarians they employ. This move is expected to save the average full-service restaurant $8,000 to $10,000 annually, allowing them to protect jobs, invest in their employees and innovation, and drive local economies across the province.

RC Show 2025, themed FUEL: Your potential, people, prosperity & passion, focused on empowering individuals and fuelling business success through innovation. Spanning over 350,000 square feet, the show floor featured 11 pavilions: dedicated spaces to celebrate diverse communities and their local innovations. Highlights from this year’s pavilions included the return of the Black Experience, which won the Best First-Year Booth award in 2024, the Ontario pavilion that grew to feature over 40 local businesses, and the Indigenous Pavilion which proudly spotlighted remarkable Indigenous companies from across the country. With nearly 1,300 exhibitors, 7 live competitions, and 9 stages of programming, the event not only showcased global and local brands but also celebrated industry trailblazers while offering a dynamic platform for the latest innovations.

This world-class trade event featured an exceptional lineup of speakers, and four exceptional keynotes, who embody innovation, vision, passion and a deep commitment to the industry we all love. Chef José Andrés, renowned chef, humanitarian, and founder of World Central Kitchen (WCK), joined the show for an intimate fireside chat where he discussed the resilience of the foodservice industry and how to inspire professionals to lead with purpose and thrive in an era of rapid transformation. Chef Tuệ Nguyễn, better known as @TwayDaBae, culinary keynote, took the stage alongside knife-skills expert Chef Wallace Wong, followed by a fireside chat with Trevor Lui. Shingo Gokan, bar & beverage keynote, bartender and founder of Fivesenses FZCO, shared industry insights and tidbits on branding, adapting to new markets, and balancing artistry with high-volume service. Michèle Boudria, leadership keynote, spoke to her role in building up McDonald’s Canada to make the right, bold decisions while navigating the complexities of leading a large-scale business in a dynamic industry.

The show’s seven live competitions shone a spotlight on Canada’s best and brightest chefs, pizza-makers, mixologists, baristas and shuckers. This year’s competition winners are listed below.

• Bocuse d’Or National Finalist: Chef Keith Pears
• Beyond the Rail Cocktail Competition: 1st Place - Jae Han, 2nd Place - Nick Benyamen, 3rd Place - Hannah Kivlin
• Breakfast Sandwich Competition: 1st Place - Aleem Syed, 2nd Place - Prathamesh Patil, 3rd Place - Rishika Bhansali
• Creative Pizza Competition: 1st Place - Kyle Mackay, 2nd Place - Anne Turic, 3rd Place - Jie Yan
• Garland Canada Culinary Competition: 1st Place - Maya Petten, 2nd Place - Tia Huszczo, 3rd Place - Cleo Mariz Valerio, Runner Up - Alijah Casellas, Fan Favourite - Kiran Ruhela
• John Bil Oyster Shucking Competition: 1st Place - Eamon Clark, 2nd Place - Chris Manocchio, 3rd Place - Brooke Kotak, Cleanest Plate - Tristan McConnell
• Latte Art Competition: 1st Place - Kevin Yip, 2nd Place - Wanying Wang, 3rd Place - Ehsen Khatib
• The World Pastry Cup National Finalists: Chef Christophe Sportellini and Chef Nicolas Belorgey
• Traditional Pizza Competition: 1st Place - Bart Nadherny, 2nd Place - Katelynn Dingwell, 3rd Place - Jordan Chin-Ting

This year’s show floor featured cutting-edge technology and sustainable solutions to innovative culinary tools and locally sourced ingredients—exhibitors showcased the latest advancements shaping the foodservice, hospitality, and beverage sectors. This year’s exhibitor Booth Awards placed a spotlight on the standout contributions exhibitors brought to show, with top honours going to DoorDash for the Best Small Booth, Bondi Produce for Best Large Booth, Nella Cutlery for Best Experiential Booth, and last but definitely not least, Fairlee by Lassonde for Best First-Year Booth.

When one event wraps up, another is already underway, and with that: RC Show is moving to the International Centre on March 8-10, 2026! While the venue is changing, Restaurants Canada’s commitment to fuelling the potential of Canada’s foodservice and hospitality industry remains the same—the move to the International Centre opens more possibilities to deliver on that promise. For more information, visit www.rcshow.com.