|MTY to Enter Retail Market|
|Friday, 27 July 2012 11:37|
MONTREAL — MTY Food Group Inc. (MTY) and Berthelet Food Products Inc. (Berthelet) have struck an agreement to bring MTY’s food products to retail stores in Canada.
“MTY is proud to have signed [an] agreement with a solid partner, who has extensive experience in marketing licensed products into retail stores,” said Stanley Ma, president, chairman and CEO of MTY Food Group.
“MTY felt it was the right time for its brands to leverage the recognition they’ve gained in the quick-service restaurant industry and enhance their presence in consumers’ food purchases.”
The licensing agreement covers three of MTY’s brands; Thai Express, and two others that are yet-to-be-determined. There’s no news on what stores will stock the food, but the first products are expected to gradually appear in retail within six to nine months.
Danny Berthelet, president of Berthelet, said his company’s experience in marketing products from the restaurant industry, combined with MTY’s brands, is a good match. “[It enables] Berthelet to successfully develop a product line that will correspond to consumer's needs in a segment that’s rapidly growing.”
The agreement with Berthelet extends over an initial term of six years.