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The Keg at Yonge and Eglinton in Toronto.
|Predecessor||The Keg and Cleaver|
|Founded||North Vancouver, British Columbia
|Headquarters||Richmond, British Columbia, Canada|
Number of locations
|42 (Canada) as of October 2016
10 (United States)
|Canada, United States|
|Products||Steak, ribs, chicken, and seafood|
|Owner||Fairfax Financial: 51%
David Aisenstat: 49%
The Keg is a Canadian chain of steakhouse restaurants and bars located in Canada and the United States. It is operated by Keg Restaurants Ltd., the legal operating entity of the restaurant chain that is, as of February 4, 2014 51% owned by Fairfax Financial and 49% by David Aisenstat, who had previously owned 100% of the chain.
It's important to note, however, that its right to use The Keg trademarks & intellectual property comes from a 99-year license & royalty agreement with The Keg Royalties Income Fund, signed in 2002, that collects an annual royalty in the amount of 4% of gross sales for restaurant locations in the Royalty Pool. The Keg Royalties Income Fund is the publicly traded portion of The Keg group of companies and is traded as TSX: KEG.UN on the Toronto Stock Exchange, other than public shareholders of Fairfax Financial who, indirectly, through Fairfax's wholly owned investment management subsidiary, would effectively be "owners" of the 51% of Keg Restaurants Ltd that Fairfax owns. Keg Restaurants Ltd also provides management services to The Keg Royalties Income Fund at no cost as part of its long-term royalty and licensing agreement.
Each restaurant is individually owned and operated by a local franchisee owner/operator; however, Keg Restaurants Ltd does provide much of the back-office, financial accounting, human resources advisory, procurement, menu selection and real estate development services to local franchisee owner operators.
It was founded in 1971 in North Vancouver, British Columbia as 'The Keg and Cleaver by George Tidball at one very small, downstairs location in an old industrial building in the Moodyville area of lower Lonsdale and today operates in all provinces (excluding Prince Edward Island) and five American states. The Keg is well known for buying up historic manors and turning them into restaurants. Examples of this are the Keg Mansion in Toronto, and the Keg Manor at the Maplelawn Estate in Ottawa. Also notable as heritage restorations are the Kegs in Kamloops, British Columbia, which was a CN Station and in New Westminster, British Columbia, which was formerly the city's CPR station.
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