Toronto financial firm buys Vancouver's Keg Restaurants chain

Vancouver founded and headquartered Keg Restaurants chain has been purchased by a major financial holding company in Toronto.

Fairfax Financial Holdings will be purchasing a controlling stake of 51 per cent of Keg Restaurants Ltd.

Vancouver hospitality entrepreneur David Aistentat will retain 49 per cent ownership of his company and the existing Keg management team will continue to run the restaurant chain’s 100+ restaurants and 9,500 employees. The Keg produces $500 million in gross sales annually.

Fairfax is currently involved with Blackberry with its recently announced $1-billion financing deal with the smartphone company.

Image: Keg Restaurants Limited