Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  ONEX Corporation    ONEX   CA68272K1030


Delayed Quote. Delayed Toronto Stock Exchange - 08/22 04:00:00 pm
75.58 CAD   +0.29%
08/19Onex Partners Completes Sale of Jack's Family Restaurants
08/15ONCAP to Partner with ILAC
08/08Onex Reports Second-Quarter 2019 Results
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Onex to Sell Jack's Family Restaurants

share with twitter share with LinkedIn share with facebook
share via e-mail
07/18/2019 | 08:31am EDT

All amounts in U.S. dollars unless otherwise stated

TORONTO, July 18, 2019 (GLOBE NEWSWIRE) -- Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) today announced they have agreed to sell Jack’s Family Restaurants (“Jack’s”).  The transaction is expected to close in the third quarter of 2019 subject to customary closing conditions and regulatory approvals.  The terms of the transaction were not disclosed.

“Over the course of our investment, Jack’s significantly accelerated its growth and brought its differentiated concept, high-quality food and exceptional customer service to new communities across the southern U.S.,” said Matt Ross, a Managing Director of Onex.  “We’d like to thank Todd Bartmess, Jack’s management team and all of the company’s dedicated employees for being great partners to Onex.  We wish them continued growth and success in the future.”

“Matt and the entire Onex team have been wonderful to work with.  Their support has allowed us to continue to invest in our people, technology and the growth of our brand,” said Todd Bartmess, Chief Executive Officer of Jack’s.  “They were steadfast in their commitment to the Jack’s family and the high standards we set.  We’re grateful for Onex’ partnership over the years.”

In July 2015, the Onex Group acquired Jack’s for a total equity investment of $234 million.  Upon completion of the transaction, the Onex Group will have received proceeds of approximately $835 million, including prior distributions of $106 million.  This results in a gross multiple of invested capital of 3.6 times and a 38% gross rate of return.  Onex invested $79 million in Jack’s as a Limited Partner in Onex Partners IV and will have realized $255 million upon completion of the transaction, including prior distributions of $31 million.

About Onex
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high-net worth clients from around the world.  Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff’s actively managed public equity and public credit funds.  In total, Onex’ assets under management are approximately $37 billion, of which approximately $6.6 billion is shareholder capital.  With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

The Onex Partners and ONCAP operating companies have assets of $51 billion, generate annual revenues of $31 billion and employ approximately 172,000 people worldwide.  Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX.  For more information on Onex, visit its website at www.onex.com.  Onex’ security filings can also be accessed at www.sedar.com.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements.  Forward-looking statements are not guarantees.  The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements.  Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors.  These cautionary statements expressly qualify all forward-looking statements in this press release.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: +1.416.362.7711

Primary Logo

© GlobeNewswire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
08/19Onex Partners Completes Sale of Jack's Family Restaurants
08/15ONCAP to Partner with ILAC
08/08Onex Reports Second-Quarter 2019 Results
07/29Canada's WestJet Airlines schedule without Boeing 737 MAX until Nov. 4
07/29WESTJET AIRLINES : reports a significant return to second quarter profitability
07/29WESTJET AIRLINES : Court of Queen's Bench of Alberta approves WestJet's proposed..
07/26Canada's WestJet posts surprise profit despite sector's 737 MAX woes
07/26WESTJET AIRLINES : Court of Queen's Bench of Alberta approves WestJet's proposed..
07/26WESTJET AIRLINES : swings to profit in second quarter ahead of privatization
07/24WESTJET AIRLINES : receives overwhelming security-holder support for its acquisi..
More news
Financials (CAD)
Sales 2018 -
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 -
Capi. / Sales2018 -
Capi. / Sales2019 -
Capitalization 7 560 M
Duration : Period :
ONEX Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ONEX CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 5
Average target price 97,63  CAD
Last Close Price 75,58  CAD
Spread / Highest target 36,3%
Spread / Average Target 29,2%
Spread / Lowest Target 25,7%
EPS Revisions
Gerald W. Schwartz Chairman, President & Chief Executive Officer
Christine M. Donaldson Managing Director-Finance
Christopher Allan Govan Chief Financial Officer
Blair Bernholtz Finance Director
Natasha Giannopoulos Vice President-Information Technology
Sector and Competitors