Stanley Ma’s MTY Food Group has purchased Timothy’s World Coffee and Mmmuffins from a subsidiary of Le Duff America for $1.675 million. MTY gets the current 28 franchised and seven corporately owned Timothy’s locations in Canada, two licensed Timothy’s locations in US, three Mmmuffins and two co-branded franchised locations in Canada. It will also acquire the license to operate and franchise coffee shops under the trade name Timothy’s which is owned by Keurig Canada. MTY has many brands including Thai Express, Vanellis and Manchu Wok. Mr. Ma is a Canadian franchisor and operator of numerous quick service restaurants operating under 70 brand names, some of them through wholly owned subsidiaries. The number of enterprises carrying MTY brands reached 5,500 in 2017. Stanley Ma is a 67 year old Hong Kong-born Canadian.
