U.S. Oaktree, JHR Capital JV invests $47 mln in Canada's Foodtastic

A joint venture between funds managed by U.S. investment firms Oaktree Capital Management, L.P. and JHR Capital LLC., Restaurant Royalty Partners, has invested $47 million in Canadian restaurant concepts franchisor Foodtastic Inc.

Foodtastic said that its partnership with Restaurant Royalty Partners marks a successful next step in the company's growth as the capital will accelerate its strategy of acquiring brands with strong potential for growth.

In addition, Foodtastic will continue its organic growth plan, which has seen 13 new restaurants open in 2018, with 18 planned for 2019.

Oaktree and JHR Capital expect to partner with Foodtastic and support its next stage of growing organically and find quality restaurant concepts to acquire.