TRADING SYMBOL: TSX: AW.UN
VANCOUVER, BC, Oct. 21, 2020 /CNW/ - A&W Revenue Royalties Income Fund (the "Fund) and A&W Food Services of Canada Inc. ("Food Services"), announced today that Don Leslie, Chief Financial Officer (CFO) of both entities has communicated his plans to retire. Mr. Leslie will remain with A&W through June 2021 to ensure a smooth transition.
"It's been my pleasure and privilege to serve as the CFO for both the Fund and A&W Food Services and be part of A&W's transformation to the 5th largest restaurant brand in Canada," said Mr. Leslie. "Looking ahead, A&W's strong financial position and focus on strategy and its talented and dedicated employees, franchisees and suppliers make me confident of A&W's continued success."
A&W also announced today that it has appointed Kelly Blankstein, Chief Financial Officer of both the Fund and Food Services effective November 3, 2020.
"I would like to congratulate Don on his retirement and thank him for his contribution to our business over the years. Kelly is a talented financial leader whose broad experience will be a tremendous asset to our business as we continue to grow our brand across Canada" said Susan Senecal, President and Chief Executive Officer of Food Services and of the Fund.
Ms. Blankstein brings with her two decades of finance, risk management and corporate strategy experience, most recently with Cadillac Fairview Corporation where she is currently the Corporate Controller responsible for the financial oversight of the Western Canada portfolio of properties. Ms. Blankstein is a Chartered Professional Accountant and holds Bachelor of Business Administration and Bachelor of Science degrees from Simon Fraser University.
ABOUT A&W FOOD SERVICES
A&W Food Services of Canada Inc. is Canada's second largest quick-service hamburger restaurant chain and is 100% Canadian owned. Operating coast-to-coast, A&W restaurants feature famous trademarked menu items such as The Burger Family®, Chubby Chicken®, and A&W Root Beer®. For more information, please visit www.aw.ca. Find A&W on Twitter, Instagram, Facebook and YouTube.
ABOUT THE FUND
The A&W Revenue Royalties Income Fund is a limited purpose trust established to invest in A&W Trade Marks Inc. ("Trade Marks", which through its interest in A&W Trade Marks Limited Partnership (the "Partnership"), owns the A&W trademarks used in the A&W quick service restaurant business in Canada. The A&W trademarks comprise some of the best-known brand names in the Canadian foodservice industry. In return for licensing Food Services to use its trademarks, Trade Marks (through the Partnership) receives royalties equal to 3% of the sales of A&W restaurants in the Royalty Pool.
FORWARD LOOKING INFORMATION
Certain statements in this news release may contain forward-looking information within the meaning of applicable securities laws in Canada. The words "anticipates", "believes", "could", "expects", "intends", "may", "might", "plans", "should", "will", "would" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specific forward-looking statements include statements with respect to the timing of anticipated management changes. The forward-looking information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by the forward-looking information. The forward-looking information contained in this news release represent the Fund's expectations as of the date of this news release and are subject to change after this date.
SOURCE A&W Revenue Royalties Income Fund