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Hospitality veteran Richard Jaffray’s LFG Growth Partners snap up shares in beloved Canadian steakhouse chain.
Founding ex-partner of the Cactus Club, Richard Jaffray, now has a steak—err, make that stake—in the Keg fortune.
His investment firm LFG Growth Partners, which also owns the expanding Nook franchise, Oddfish and Hawksworth Restaurant Group, purchased shares in the ubiquitous casual steakhouse chain last week, taking over from Recipe Unlimited, a group that lists the Olive Garden and Swiss Chalet chains under its brands.
“The Keg is an iconic Canadian brand built over 50 years, and it has become a celebrated name while expanding its presence across Canada and the United States,” Jaffray wrote in a release. “I’ve always admired The Keg and have been a longtime customer. I am very much looking forward to working with Nick Dean and the entire team at The Keg to build on its incredible legacy.”
Dean, who is the president of the Keg Restaurants, lauded Jaffray and said “his team at LFG Growth Partners have decades of experience driving growth in the hospitality industry. Richard’s vision and leadership will be a powerful catalyst, helping the Keg reach new heights.”
Both the Keg and Cactus Club were both incepted in North Vancouver, successfully expanding across the province as hospitality stalwarts with dozens of locations for more than 35 years.
Kristi Alexandra is the managing editor, food and culture, at Canada Wide Media. She loves food, travel, film and wine (but most of all, writing about them for Vancouver Magazine, Western Living and BCBusiness). Send any food and culture-related pitches to her at [email protected].
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