OAKVILLE, Ontario (March 1, 2004) - Tim Hortons (New England), Inc., a subsidiary of Wendy's International, Inc., announced today a conditional agreement to acquire certain real and personal property assets of Bess Eaton Donut Flour Co., Inc. and Louis A. Gencarelli, Sr. The assets are related to up to 48 Bess Eaton coffee and donut restaurants throughout Rhode Island Connecticut and Massachusetts.
Bess Eaton announced that it has filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Rhode Island.
The agreement and the transaction are subject to the Bankruptcy Court proceedings, the issuance of orders by the Bankruptcy Court containing terms acceptable to Tim Hortons (New England), Inc. and various other closing conditions.
Wendy's International, Inc. is one of the world's largest restaurant operating and franchising companies with 9,291 total restaurants at year end 2003 and quality brands - Wendy's Old Fashioned Hamburgers®, Tim Hortons® and Baja Fresh Mexican Grill®. The Company invested in two additional quality brands during 2002 - Cafe ExpressT and Pasta Pomodoro®. More information about the Company is available at www.wendys-invest.com. Tim Hortons was founded in 1964 by Tim Horton and Ron Joyce and is the largest coffee and fresh baked goods restaurant chain in Canada. There are 2,343 Tim Hortons restaurants in Canada and 184 in the U.S.
Share this news with your network
