November 6, 2026
A proposed takeover can become a public argument long before it becomes a change of ownership. That is the position facing MTY Food Group and Foodtastic this week: two Canadian restaurant groups disagreeing over whether a sale offers the better future for a collection of familiar dining brands.
In its November 3 response, MTY said its board had rejected non-binding, conditional proposals from Foodtastic dated October 15 and October 20, each at C$43 per share. It said discussions had ended and no agreement had been reached on those proposals. The company pointed to its completed strategic review and a plan emphasizing efficiency, simplification and disciplined use of capital.
Foodtastic presents a different case. Lisa Jennings reported for Restaurant Business, published by Nation’s Restaurant News that the bidder took its appeal public on November 3 after earlier approaches were rejected. Foodtastic argued that its offer provided shareholders a better route forward. Those are the bidder’s views; they should not be presented as an independent finding about MTY’s value or management.
The exchange continued on November 4. Restaurant Dive reported that Foodtastic challenged MTY’s account and said it would not seek a shareholder vote without sufficient financing. For readers following the dispute, the distinction between a proposed price, available financing and a signed agreement is more useful than treating every new statement as a completed deal.
MTY’s portfolio includes Cold Stone Creamery, Papa Murphy’s, Pinkberry and Wetzel’s Pretzels, among other brands. That breadth explains why the disagreement matters beyond corporate offices. Changes at a franchisor can affect how resources are allocated across different concepts. But this exchange does not establish that a particular restaurant will close, change its menu or receive a new local operator.
The practical test is what happens next: a revised proposal, renewed talks, a binding agreement or further execution of MTY’s existing plan. Until then, customers and franchisees have a dispute to watch, not a completed ownership transfer. For a concrete example of how brands in this portfolio share space, read our Papa Murphy’s and Pinkberry coverage.