Toronto doughnut cone giant acquires its biggest rival

Toronto doughnut cone giant acquires its biggest rival

The greatest (and I think only) doughnut cone rivalry Toronto has ever seen just ended with a merger that will see Eva’s Original Chimneys stand alone as the city’s chimney cake champs — but everyone’s a winner in this situation.

Eva’s, a Toronto based food truck-turned-brick and mortar chain that specializes in Hungarian spiral pastries (Kurtoskalacs), announced on Monday that it had officially acquired its largest competitor: Chimney Stax Baking Co.

All existing Chimney Stax locations, including food trucks and seasonal locations in the CNE Food Building and Toronto Christmas Market, will “be converted to the Eva’s brand and recipes” effective immediately, according to a press release.

evas original chimneys

Eva’s serves up dreamy sweet Hungarian-style bread pastry topped with everything from Nutella and fruit preserves to organic ice cream. Photo by Jesse Milns.

But there’s no love lost between Eva’s and the owners of Chimney Stax,  who founded their business in 2014 as a food truck, but exploded into the big time after successfully pitching their nearly one-foot-high dough spirals on Dragons’ Den in 2016.

“We are very pleased with this acquisition”, said Matt Lindzon and Zach Fiksel in a statement issued this week.

“We have worked hard to create a fantastic food experience and we know that, in Eva’s hands, our customers will continue to enjoy this delicious product for years to come.”

doughnut cones toronto

Matt Lindzon and Zach Fiskel  secured a deal with Toronto business mogul Joe Mimran on Dragon’s Den in November of 2016. He gave the pair $125,000 for 25 per cent of the business. Image via Amy Carlberg.

Eva’s Original Chimneys co-owner Kristin Butler is similarly stoked about the merger.

“We really admire what Zach and Matt have done,” she said. “Their success on Dragon’s Den is a huge testament to their knowledge and passion and we really look forward to building on this with the Eva’s brand operating at their great CNE and Toronto Christmas Market locations.”

No dollar amount for the deal has been disclosed, but we do know that both Zach and Matt will be receiving an “Eva’s Black card”, which means free, all-natural vegan doughnut cones with local dairy ice cream for life.

We should all be so lucky one fine day.

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