As things stood as the participants came to Paris to negotiate a peace, the British had captured the following possessions from the French: French Canada, French factories in India, some small colonies in Africa, and many of the French islands in the Caribbean including Martinique and Guadeloupe and from the Spanish: Cuba and the Philippines. The French had captured from the British: Minorca and some trading posts in Sumatra, while the Spanish had captured the fortress of Almeida from the Portuguese.
Everybody could had just kept what they possessed and went away fat dumb and happy but the British really, really wanted Minorca back; it was their main naval base inside the Med (remember, they didn't have Malta in those days). So they are going to have to offer something to the French to get it back from them. By the same token, the Portuguese wanted their fortress back but they didn't have anything to entice the Spanish to give it up.
The British could have offered to give back French Canada to France in exchange for Minorca but that would put them back in the same poor strategic situation they had when the war began; that's not really smart. It makes more sense to offer up Guadeloupe and Martinique as part of the trade along with the islands in the Gulf of St. Lawrence. The British still kept most of the old French colonies in the Caribbean so it wasn't like they gave back everything they had captured and the French valued these islands over Canada. The British really didn't want to keep either Cuba or the Philippines, way too expensive for the return, so they gave them up in exchange for the Spanish returning Almeida to the Portuguese and the Spain turning over Spanish Florida. By this means, they have remove the threats from the North and the South to the British North American colonies, pretty slick strategic thinking.
This left the French supposedly controlling the Louisiana territory, which the British could live with since it was relatively distant from the colonies; but unknown to the British, the French and Spanish secretly agreed to the Treaty of Fontainbleu which gave Louisiana to the Spanish. This actually made the British strategic position much stronger since the Spanish were a weaker foe than the French and even less likely to stir up the Native Americans along the frontier.
The British wanted property out of the peace treaty which they didn't control so they have to give up something off value to get it. Yes, the British could have made another attempt to recapture Minorca but both the British and French wanted to end the war and who knows if they would be successful.