MISM to acquire Pretzelmaker Inc. with $55,000,000 in annual revenue.
Wednesday February 11, 7:28 pm Eastern Time
Company Press Release
SOURCE: MIS International Inc.
MIS International Inc. to Acquire Pretzelmaker Inc.
MISSISSAUGA, Ontario, Feb. 11, /PRNewswire/ -- MIS International Inc. (OTC Bulletin Board: MISM - news) announced today that it has signed a letter of intent to acquire Pretzelmaker Inc. of Denver, Colorado. Pretzelmaker operates 220 locations in North America and Asia.
Average store sales volume was $250,000 in 1997. Pretzelmaker operates in 39 states and 8 Canadian provinces in major retail malls, sport arenas and high traffic retail areas. According to MIS CEO Dan Masters, ''adding Pretzelmaker to our roster of retail companies makes sound business sense. Not only do we add one of the finest food chains in existence but, coupled with our current pretzel operations, we will be a dominant force in the snack food industry.''
MIS will also purchase 15 locations currently operating under franchise agreements. Masters states ''we will be investing almost seven million dollars to complete this purchase. Closing is scheduled no later than the first week of April.''
MIS International Inc. develops and franchises retail concepts on a multi unit basis. MIS currently has two distinct franchise concepts, Pretzel Twister in the snack food industry and Wheel to Wheel in the automotive repair industry.
SOURCE: MIS International Inc.
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