A&W Revenue Royalties Income Fund and A&W Food Services of Canada to merge in a $175.6m deal.

A&W Revenue Royalties Income Fund, a limited purpose trust investing in trade marks, and A&W Food Services of Canada, a franchisor of A&W fast-food restaurant chain in Canada, agreed to merge in a $175.6m deal to create A&W Food Services NewCo, a growth-focused QSR franchisor. "I'm very excited about combining the two halves of A&W. We have tremendous growth opportunities, and this new combined entity structure allows us to fully take advantage of these opportunities for the benefit of unitholders, franchisees, employees and our guests, enabling everyone to win and grow, together," Susan Senecal, A&W Food Services President and CEO.