In March 2006, FDC Brands announced a partnership with the principals of Stonewater Group of Restaurants Inc. to acquire all the outstanding common shares and interest in the MR MIKES® Steakhouse and Bar chain.

MR MIKES® is an institution in Canada’s Foodservice Industry and is rapidly emerging back to its roots as the dominant steakhouse chain in the country. Offering affordable indulgence of Canada’s finest premium quality beef, and refreshing branded bar beverages, MR MIKES® Steakhouse and Bar is uniquely positioned and remarkably successful in the fast paced casual dining sector.

As Canada’s oldest and original Steakhouse chain, MR MIKES® Steakhouse and Bar is well positioned as the affordable alternative to the typical steakhouse brand. Since 1960, when the first location opened at 911 Granville street in Vancouver, MR MIKES® Steakhouse and Bar has sold over 17 million pounds of beef including over 30 million of their signature trademarked MIKEBURGER. Today MR MIKES® Steakhouse and Bar has evolved to adopt a more contemporary identity in the casual dining segment that is taking the competition by storm.

FDC Brands has plans to grow the MR MIKES® Steakhouse and Bar brand by 15% to 30% a year with a combination of continued new corporate growth supported by a franchise development plan for qualified investors.