GLOBAL PET FOODS TO EXPAND INTO UNITED STATES
25 September 2010 - 5:49AM
PR Newswire (Canada)
BRAMPTON, ON, Sept. 24 /CNW/ -- Stock Exchange: TSX Venture Symbol:
FBI Outstanding Common Shares: 7,632,662 BRAMPTON, ON, Sept. 24
/CNW/ - (Franchise Bancorp Inc. - TSX Venture Exchange - FBI) -
Edward K. Loyst, Chairman of Franchise Bancorp Inc. announced today
that Global Pet Foods USA, Inc., had finalized the terms of a joint
venture agreement to incorporate Canam Pet Foods, LLC in
partnership with West Bay Drive LLC. West Bay Drive LLC is a
division of EKS Acquisitions Inc. Canam Pet Foods, LLC will have
master franchise license rights to open corporate and franchised
stores in the North Eastern United States. The new company plans to
open up to ten (10) Global Pet Food stores in 2010 and 2011. The
president of the new company is Elliot Sasson of New York City. Jim
Walker, President of Global Pet Food Stores Inc. and Paul Thomson,
President of Franchise Bancorp Inc., negotiated the joint venture
agreement with EKS Acquisitions and will co-manage the rollout of
Global Pet Food stores in the United States along with Mr. Sasson.
Global Pet Foods USA, Inc. is a newly incorporated Delaware
corporation, and a wholly owned subsidiary of Global Pet Food
Stores Inc., a division of Franchise Bancorp Inc. There are
currently 130 Global Pet Food stores in 9 provinces across Canada.
%SEDAR: 00009247E Ted Loyst, Chairman or Paul Thomson, President,
Franchise Bancorp Inc., Tel: 905-790-9023, Fax: 905-790-7059,
Email: info@franchisebancorp.com
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