TORONTO--(BUSINESS WIRE)--The Redberry Group (“Redberry”) is pleased to announce the appointment of Ken Otto as Redberry’s new CEO, effective immediately.
Ken’s appointment is a clear reflection of the company’s current state of “Growth Ready” and fired up after another year of strong financial results as the largest privately-owned BURGER KING® franchise operator in Canada. Ken has a successful track record of developing strong brands in Canada leveraging his 30 plus years experience in the hospitality industry. Prior to joining Redberry, Ken led some of Canada's largest restaurant Brands as President of Recipe’s Family Dining Division. Before Recipe Unlimited Corp., he was COO for Boston Pizza International. Redberry is excited to benefit from Ken’s leadership as he heads Redberry’s BURGER KING® and Pizza Hut expansion strategy in Canada.
“Both Burger King and Pizza Hut possess significant potential in Canada,” says Ken, “and we look forward to working collaboratively with our Partners and very talented Redberry teams, to deliver simply the best burgers and pizzas to Canadians.”
Earlier this year, City Capital Ventures, LLC (“CCV”), a private investment partnership headquartered in Chicago, Illinois, announced the acquisition of Toronto-based Redberry Group and plans to accelerate new unit growth and remodels for both the BURGER KING® and Pizza Hut brands in Canada.
About Redberry Group
Founded in 2005, Redberry Group is one of the largest quick-service restaurant franchisees in North America with 110 BURGER KING® restaurants across Ontario, Quebec, and Manitoba and 23 Pizza Hut restaurants in Alberta. The Redberry-owned BURGER KING® restaurants represent 40% of all Canadian BURGER KING® locations.
About City Capital Ventures
City Capital Ventures is an investment partnership whose purpose is to pair capital with business opportunity in a better, more-tailored way. Investing on behalf of their network of family offices and private market investors, CCV seeks out firms with innovative business designs and attractive niche positions and looks to invest at inflection points — not pre-determined stages. Because of their flexible mandate, CCV investments are unbound by size or industry, though they typically invest in consumer, commercial and service businesses requiring up to $100 million of capital. CCV’s aim is to create lasting value for their investors, the companies in which they invest, and the broader stakeholders touched by their companies. For more information, visit www.citycapitalventures.com.