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Recipe Unlimited (Cara Operations) Malware Outbreak?


KFRCanuk
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https://www.cbc.ca/news/business/ransomware-hack-recipe-unlimited-restaurant-cyberattack-1.4847487

 

On Monday, Recipe Unlimited — formerly Cara Operations — said it was hit with a "malware outbreak" that's affecting operations at a "limited number" of its restaurants including brands Swiss Chalet, Harvey's, Milestones, Kelseys, Montana's, Bier Markt, and East Side Mario's.

 

Several locations have temporarily closed as a result.

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I know FFH owns half of Cara but as a non-canadian I wasn't familiar with most of their brands.  I ate at a couple of them (Swiss Chalet and I forget the other one) when I was in Toronto for Fairfaxpalooza and they are perfectly fine restaurants but I don't get it. I know that Fast Casual is a growing segment but I don't see what is so exceptional about these brands that Prem wanted to buy 1/2 of it.

 

As to the malware outbreak, it's much less worrisome than a databreach where customer info is stolen. I think it's just a tiny blip on the radar screen.

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Mostly nothing is that special about their brands. Nobody gets excited about chalet/montanas/Kelseys etc. They are in airports and strip malls. Swiss Chalet is bar none the cheapest sit down restaurant where I live (including family run ethnic food restaurants) so they have that going for them.

 

 

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  • 2 weeks later...

I know FFH owns half of Cara but as a non-canadian I wasn't familiar with most of their brands.  I ate at a couple of them (Swiss Chalet and I forget the other one) when I was in Toronto for Fairfaxpalooza and they are perfectly fine restaurants but I don't get it. I know that Fast Casual is a growing segment but I don't see what is so exceptional about these brands that Prem wanted to buy 1/2 of it.

 

As to the malware outbreak, it's much less worrisome than a databreach where customer info is stolen. I think it's just a tiny blip on the radar screen.

 

I can't remember the full story but they didn't so much buy half of it as create it. They bought large stakes in the predecessor companies, merged them, hand-picked management etc. I don't know the stock well but their behaviour makes me assume they see it as a long run growth engine.

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