Seth Commercial Corp. announces acquisition of La Prep
TORONTO – Seth Commercial Corp with New Taste Partners (NTP) is pleased to announce the acquisition of La Prep, Canada’s upscale bistro-style quick-service restaurant.
The deal, completed in October 2017 comes with the acquisition of all franchises across Canada, La Prep’s new CEO, Naveen Seth was the master franchisee for La Prep in Southern Ontario since 1999, and has successfully opened 35 locations. After immigrating to Canada from India in 1988, Seth has built a name for himself in both the hospitality and tech spaces. He brings a unique look into La Prep’s expansion, and is excited to contribute his skills to the company.
“I believe La Prep has great potential for growth and expansion,” says Naveen Seth. “With my knowledge of the industry, experience, proven track record, strong leadership and brand innovation, we will take this brand to the next level.”
Seth is also the founder and owner of Chaska, a unique Indian street food restaurant based in Mississauga. Prior to moving back into the hospitality space, he founded Lantec, an IT company that developed interactive training software for businesses, which he sold to a publicly traded company ForeFront of Houston, Texas.
“I have been working very hard to put together a team of experts that will help bring strategy and vision to la Prep,” says Seth. “Together we are putting forward a strategic business plan that will improve operations, implement new systems and increase overall market share and profits. We will establish increased brand awareness, improved hospitality, and improved systems and standards for continuous growth.”
To learn more about La Prep, please visit laprep.com.
ABOUT la prep™
la prep is a Montreal based premium quick restaurant chain offering in-store and catering services in major urban markets across Canada. la prep offers a daily variety of freshly-prepared sandwiches, salads, soups, baked goods, breakfast options, and signature coffees. la prep now has over 50 locations in operation and plan to expand to over 60 locations in 2018. For more information, please visit: www.laprep.com or follow: http://twitter.laprep.com
ABOUT NEWLOOK CAPITAL INC. (New Taste Partners)
Newlook Capital is a private equity firm that currently has 4 industry-specialized funds available to the retail and institutional markets. Each fund has its own focused, experienced, and aligned management, and a defined strategy. Investing throughout Canada and the U.S. with a preference for companies that exhibit a solid tangible assets base, Newlook Capital is focused on and current holdings include; multifamily real estate and services in the U.S., industrial services in Canada and the U.S., dental practices, and QSR in Canada. Newlook Capital Inc. took the initiative to establish Newlook LP and indirectly controls its general partner. www.newlookcapital.com
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