MTY Group buys Dagwoods

The assets of the popular Montreal-based sandwich chain Dagwoods have been bought by MTY Group, a St. Laurent-based food service company that operates no less than 48 brands.

The transaction is reportedly worth $3 million.

Dagwoods was founded in Montreal in 1989, and has 23 restaurants, all but one are located in Quebec. Last year, the chain generated $8 million in sales.

A statement from MTY says Dagwoods' current president, Spiro Krallis, will stay on with the company for three months to assist with the transition.

MTY currently owns several well-known brands, including Tutti Frutti, Thai Express, Sushi Shop and Au Vieux Duluth Express, just to name a few.