The Keg Steakhouse & Bar restaurant chain has been sold to Fairfax Financial Holdings. The deal gives 51% ownership to Fairfax, and the remaining 49% will stay with Keg president and CEO, David Aisenstat.
The Keg has come to be known for reliable (although not necessarily the best) steaks in the city. Believers argue that it's a great value for the price; haters would rather spend their money elsewhere. But the chain is a success, despite its mixed reviews; the Keg has locations across Canada and into the United States.
Also, in other restaurant wheelings and dealings, Cara Operations (who own Kelsey's and Swiss Chalet) will be taking over Prime Restaurants (such as Casey's and East Side Mario's) from Fairfax. These are the big boxes of restos here.
· Fairfax Buys Stake in Steakhouse Chain; Keg Restaurants Management Remains [Star]
· The Keg Royalties Income Fund and Keg Restaurants Ltd. Announce Sale of 51% Interest in Keg Restaurants Ltd. [Wall Street Journal]
· The Best Steakhouses in Toronto [BlogTO]