Transaction|October 31, 2013
Fairfax's strategic partnership with Cara Operations
Torys acted as counsel to Fairfax Financial with a team that included David Chaikof, Glen Johnson, Eric Foster and Stephen Abrahamson (M&A), Andrew Wong (tax), Tom Zverina and Sabrina Kumar (lending), Lynne Lacoursière and Tom Stevenson (employment).
On October 31, 2013, Fairfax Financial Holdings Limited (Fairfax) and Cara Operations Limited (Cara) entered into a strategic financial partnership. Under the related agreements, Fairfax and the other Prime Restaurants Inc. (Prime) shareholders sold Prime to Cara and acquired a financial stake in Cara's business. Following the transaction, Prime is now a wholly-owned subsidiary of Cara.
Cara Operations is Canada's largest full service restaurant organization, operating some of the most recognized brands in the country, including Swiss Chalet Rotisserie & Grill®, Harvey's®, Milestones Grill & Bar®, Montana's Cookhouse® and Kelsey's Neighbourhood Bar & Grill®.
Prime Restaurants of Canada owns, operates and franchises a portfolio of casual dining restaurant brands and premium pubs in Canada, including East Side Mario's® and Casey's® and pubs such as Fionn MacCool's®, D'Arcy McGee's®, Paddy Flaherty's®, Tir nan Óg® and Bier Markt®.
Fairfax Financial Holdings is a financial services holding company that is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.
Further information can be found on Marketwired's website.
Cara Operations is Canada's largest full service restaurant organization, operating some of the most recognized brands in the country, including Swiss Chalet Rotisserie & Grill®, Harvey's®, Milestones Grill & Bar®, Montana's Cookhouse® and Kelsey's Neighbourhood Bar & Grill®.
Prime Restaurants of Canada owns, operates and franchises a portfolio of casual dining restaurant brands and premium pubs in Canada, including East Side Mario's® and Casey's® and pubs such as Fionn MacCool's®, D'Arcy McGee's®, Paddy Flaherty's®, Tir nan Óg® and Bier Markt®.
Fairfax Financial Holdings is a financial services holding company that is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.
Further information can be found on Marketwired's website.