At Second Cup, we know that in order to provide the best coffee for our Guests, we must continue to work in harmony with both the environment and people who provide us with the best quality coffee beans. To both our Guests and coffee producers, we pledge that our coffee growing environment is treated with the utmost respect and dignity. All of our coffee producers provide a safe and healthy work environment and employees are compensated in a fair and equitable manner. As well, Second Cup continues to provide financial remuneration for quality beans to directly benefit the farmers, workers and mills. This is our promise.
Second Cup Royalty Income Fund announces the completion of its acquisition of The Second Cup Ltd. and appointment of CEO
Jun 29, 2009
9:28am
MISSISSAUGA, ON, June 29 /CNW/ - Second Cup Royalty Income Fund (the
"Fund") (TSX: SCU.UN) announced today that its wholly-owned subsidiary
completed the acquisition all of the outstanding shares of The Second Cup Ltd.
("Second Cup"). This transaction recombines the business of the Fund with the
business of Second Cup as previously set out in the Fund's announcement on May
1, 2009. Second Cup and its management team will continue to operate the
Second Cup business as a wholly-owned subsidiary of the Fund.
The Fund also announced the appointment of Stacey Mowbray as Chief
Executive Officer of Second Cup. Commenting on the appointment, Michael
Rosicki, Chairman, stated "Stacey has provided exceptional leadership since
joining Second Cup as President over a year ago and her depth of experience in
the food and restaurant industry is an asset to the company. In her role as
CEO, Stacey will continue to lead our management team on developing exciting
new product initiatives and enhancing the customer experience, all with a view
to further strengthening our café network and capitalizing on new business
opportunities."
Forward Looking Information
Certain statements in this news release may constitute forward-looking
statements. Forward-looking statements include words such as "may", "will",
"should", "expect", "anticipate", "believe", "plan", "intend" and other
similar words. These statements reflect current expectations regarding future
events and operating performance and speak only as of the date of this
release. These forward-looking statements should not be read as guarantees of
future performance or results and will not necessarily be accurate indications
of whether or not those results will be achieved. Forward-looking statements
are subject to known and unknown risks, uncertainties and other factors that
may cause the Fund's actual results, performance or achievements, or those of
Second Cup cafés, or industry results to be materially different from any
future results, performance or achievements expressed or implied by those
forward-looking statements.
The Fund
The Fund is an open-ended trust established under the laws of the
Province of Ontario. It holds, through an indirect wholly-owned limited
partnership, the Canadian trade-marks and other intellectual property and
associated rights and the operating company that carries on the business of
franchising Second Cup cafés and operating company-owned cafés in Canada and.
Second Cup is Canada's largest specialty coffee café franchisor and second
largest retailer of specialty coffee, as measured by number of cafés. For more
information on the Fund please visit www.secondcupincomefund.com.
%SEDAR: 00021352E
For further information: Jim Anas, (905) 362-1833, investor@secondcup.com