Foodtastic Inc has acquired Chocolato, a Québec City-based chain of chocolate and ice cream bars, for an undisclosed amount. The deal, done in partnership with Guyaume Arsenault, who founded Chocolato in 2015, will support the company's expansion in Canada and the United States. Based in Montréal, Foodtastic is a franchisor of restaurant concepts. It currently has more that 75 restaurants and $135 million in system sales. Last year, Foodtastic raised a $47 million investment from Restaurant Royalty Partners, a joint venture of Oaktree Capital Management and JHR Capital.
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