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Imvescor Restaurant Group Inc. (IRG)
Market: CDN Consolidated
$ 1.87
Oct 1, 2014, 5:56 AM EDT
Change: 0.03 (1.63%)
Volume: 66,673
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IMVESCOR RESTAURANT GROUP NAMES DENIS RICHARD AS CHIEF EXECUTIVE OFFICER AND DIRECTOR

Robb S. Chase appointed Director

MONCTON, NB, Feb. 7 /CNW/ - Imvescor Restaurant Group Inc. ("IRG" or the "Company") (IRG: TSX) announced today that Mr. Denis Richard has been named President and Chief Executive Officer of the Company.  Mr. Richard was also appointed to the board of directors of the Company (the "Board").  IRG also announced that Mr. Robb S. Chase has been appointed to the Board.  Directors Kevin Comeau and Leandre Cormier have resigned effective immediately.

Denis Richard is the founder and managing partner of Windward Capital, an M&A advisory firm.  Prior to founding Windward Capital, he was Senior Vice President of Strategy and M&A at BCE Emergis.  Mr. Richard has held senior business development positions with Teleglobe, BCE and Bell Mobility, and other affiliates within the Bell group.  Mr. Richard graduated from the Faculty of Law of the University of Moncton in 1986.  His experience and background with a number of public and private companies will be invaluable to the Company as it continues to address the financial and operating priorities of Imvescor Restaurant Group.

Mr. Robb S. Chase is President and Chief Executive Officer of Quiznos Canada Restaurant Corporation. He previously served as the President and CEO of Herbal Magic ULC, a private-equity owned chain of more than 350 franchised and corporate weight loss and nutrition retail outlets.  He was President and CEO of Famous Players Inc. until 2005.  Mr. Chase has extensive experience in restaurant and franchising operations with Pepsico, KFC, Pizza Hut and Taco Bell, among other companies.

"We are pleased that Mr. Richard has agreed to join Imvescor Restaurant Group as CEO and we look forward to his leadership and contribution," said Mr. Gabriel Sacratini, Chairman of the Board. "We also welcome Mr. Chase, whose depth of experience in the restaurant industry will be of great value to the Board."

"We wish to express our gratitude to the departing members of the Board," continued Mr. Sacratini. "We wish them well in their future endeavours."

"We would also like to thank William Lane for his dedication and commitment as Interim CEO.  He has earned our gratitude and respect for a job well done," concluded Mr. Sacratini. 

William Lane will continue with IRG in his position as Executive Vice President and Chief Financial Officer of the Corporation.

About Imvescor Restaurant Group
Headquartered in Moncton, New Brunswick, Imvescor Restaurant Group owns franchised and corporate stores throughout Canada, under four brands: Pizza Delight(R) operates primarily in Atlantic Canada, where it dominates the family/mid-scale segment. Mikes(R) and Scores(R) restaurants operate primarily in Quebec in the family and casual dining segments and the take-out and delivery segments. Baton Rouge(R) operates in the Province of Quebec and Ontario in the casual dining segment.

Forward-Looking Statements
Certain information regarding Imvescor Restaurant Group contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. The Company assumes no obligation to update such forward-looking statements, except as required by applicable securities laws. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.


Brigitte Viel
brigitte.viel@cohnwolfe.ca
514-845-7030

For more information about our brands:

Mikes®: http://www.mikes.ca
Pizza Delight®: http://www.pizzadelight.com
Bâton Rouge®: http://www.batonrougerestaurants.com
Scores®: http://www.scores.ca

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