The Chez Ashton restaurant chain is changing hands, but it will keep its Quebec flavor. The company is sold to the co-owners of the Ti-Oui snack bar in Saint-Raymond, has learned The newspaper.
“It had been a dream for several years. Today, it is the result of our last years of work where we have never given up. We really prepared,” said the new co-owner Émily Adam, partner with her spouse, Jean-Christophe Lirette in this adventure.
The duo of young entrepreneurs, who are 32 and 33 years old, had been working on this transaction for three years with the founder, Ashton Leblond. The pandemic, however, came to play spoilsports during the negotiations.
For new owners, the Chez Ashton brand is far from being a perfect stranger. In addition to being familiar with the products, the duo had laid down a business plan relating precisely to the acquisition of Chez Ashton as part of a university course, about ten years ago.
“It’s kind of crazy to think we’re here. Looks like we might have visualized it without realizing it. […] There, Mr. Leblond has just given us the opportunity of a lifetime,” said Mr. Lirette with a smile.
The amount of the acquisition, which was backed by Desjardins Capital and loans from the Fonds de solidarité FTQ and CIBC, was not disclosed.
For support in this change of custody and in their growth plan, Ms. Adam and Mr. Lirette can count on the manager of Chez Ashton for 25 years, Jean Côté, who is also part of the new shareholders.
Several offers
The management of Chez Ashton says it has received several purchase offers in recent years, including some from restaurant conglomerates.
It must be said that the founder, Mr. Leblond, has never hidden the fact that he had, for some time, intended to pass the torch. His priority, however, was to find people from here to take over.
The businessman was not available for an interview yesterday. In a press release, he mentions having chosen these entrepreneurs because they are from the region, they share his values and they have the company at heart.
The transaction for the 23 restaurants of the chain which has forged a reputation over the years with its famous poutine was concluded yesterday. Some of the 650 employees learned the news in the evening.
For the next few months, the new management does not foresee any change in activities. It promises to keep the head office in Quebec and to continue to rely on local supply.
“The famous slogan “Just fresh! Just real!” will stay there,” replied Mr. Lirette. “Local sourcing for us is one of the main fundamentals that must be respected,” he added.
Growth plan
In the longer term, the new bosses already have growth plans in mind. They hope to open between two and three restaurants a year, as well as provide a facelift to the current sites.
“We want to modernize the channel without distorting it. We want to keep the vintage side. […] We want to consolidate the group in the Quebec region […] and then we’ll take the time to go to the outskirts,” said Mr. Lirette.
Mme Adam and Mr. Lirette are also co-owners of the popular Ti-Oui store in Saint-Raymond. In 2018, during the election campaign, Prime Minister François Legault had a meal there. They also own three Harvey’s restaurants in the greater Quebec City area.
A jewel that stays here
At Desjardins, management is happy to see that the Quebec banner will remain under the control of people from here.
“A flagship like Ashton falls into the perfect hands. These are people who take this to heart and who want to grow the company with the same values as the founder. […] It’s the perfect marriage,” said Jean-Yves Bourgeois, Senior Vice-President, Business Services at Desjardins.
Same story with the Fonds de solidarité FTQ.
“With its head office remaining in Quebec, Ashton will continue to grow as a local business, which is good news for its many local agri-food suppliers,” said Janie C. Béïque, President and Chief Executive Officer.
At Ashton’s
- 23 restaurants in Quebec, L’Ancienne-Lorette, Lévis and Saint-Georges, in Beauce
- 650 employees
◆ 1969: Opening of the first branch in L’Ancienne-Lorette
◆ 1972: Poutine makes its appearance on the menu
◆ 1980: Opening of a second branch in Beauport
◆ 2022: Sale of the chain to Émily Adam and Jean-Christophe Lirette