MONCTON, NB, Aug. 9 /CNW/ - PDM Royalties Income Fund (TSX: PDM.UN) and Pizza Delight Corporation Ltd. are very pleased to announce that a long time member of the executive management team, Gilles Pepin, has been appointed to the newly created position of Chief Business Development Officer.
Mr. Pepin was instrumental in the acquisition of both the Scores and Baton Rouge restaurant chains and made a significant contribution in the role of Chief Operating Officer for each of these brands after their acquisitions. As Chief Business Development Officer, Mr. Pepin will develop the long-term business development strategy for the Corporation; identify future merger and acquisition opportunities; and ensure that the organization's strategic vision remains central to the development plans. Gilles Pepin brings 30 years of restaurant industry experience to this position. He will continue to be based out of the organization's Montreal office and will report to Ron Magruder, President and Chief Executive Officer.
Pizza Delight, Mikes, Scores and Baton Rouge restaurants are known for providing good food and excellent value to their customers, which make them a favourite among many Canadians.
PDM Royalties Income Fund (the "Fund") is a limited purpose open-ended trust established under the laws of Ontario. The Fund makes monthly distributions of its available cash to holders of units. The Fund indirectly owns the trade marks and intellectual property for the Pizza Delight(R), Mikes(R), Scores(R) and Baton Rouge(R) brands and has licensed them to Pizza Delight Corporation Ltd. (PDC) in consideration for a royalty equal to 4% of system sales for Pizza Delight and Mikes, and in the case of Scores and Baton Rouge, the royalty rate is 6%.
PDC is a privately owned corporation, headquartered in Moncton, New Brunswick. It operates franchised and corporate restaurants under the brand names Pizza Delight, Mikes, Scores, and Baton Rouge restaurants. Pizza Delight operates primarily in Atlantic Canada, where it dominates the family/mid-scale segment. Mikes and Scores restaurants operate primarily in Quebec in the family and casual dining segments and the take-out and delivery segments. Baton Rouge has operations in Quebec and Ontario in the high-end casual segment.