Swiss Chalet owner Cara raises C$200 million in IPO

Date Closed

April 10, 2015

Lead Office



200.00 Million CAD

On April 10, 2015, Cara Operations Ltd., Canada’s largest full service restaurant company, completed its C$200 million initial public offering. Cara sold 8.7 million subordinate voting shares for C$23 each and now trades on the Toronto Stock Exchange under the symbol CAO.

Cara Operations has 837 restaurants across Canada and 10 brands including Swiss Chalet, Harvey’s, Montana’s, Milestones and East Side Mario’s.

Scotia Capital, BMO Nesbitt Burns and RBC Dominion Securities led the underwriting syndicate on the offering.

McCarthy Tétrault represented Cara Holdings with a team consisting of David Woollcombe, Gabrielle Richards and David Badour.