TSX-V Trading Symbol: FSN
CALGARY, May 3, 2013 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" or the "Company") (FSN.V) is pleased to announce the appointment of William Plamondon as
President of Advantage Rent A Car.
Mr. Plamondon will lead the Company's integration of the business of
Simply Wheelz LLC dba Advantage Rent A Car ("Advantage"), into FSNA's
operations. Advantage became a wholly-owned subsidiary of FSNA through
the recently completed merger between FSNA and Adreca Holdings Corp.
Mr. Plamondon has considerable experience in the rental car industry and
began his career in franchise development at Budget Rent A Car in
1978. As Vice President, franchised operations, Mr. Plamondon built
Budget Rent A Car's functions in field operations, training and
development, and acquisition and refranchising. From 1989 to 1992, Mr.
Plamondon served as the Executive Vice President of sales and marketing
and later Executive Vice President, North America. In 1992, at the
direction of Ford Motor Company and Budget's Board of Directors, Mr.
Plamondon was named President of Budget Rent A Car and was appointed
Chief Executive Officer the following year. In this capacity, Mr.
Plamondon was responsible for acquisitions integration, organizational
development, and cost restructuring at the $2.5 billion company, whose
more than 3200 locations spanned 117 countries. Following his
successful years at Budget, Mr. Plamondon served as President and Chief
Executive Officer of ANC Rental Corporation, the parent company of
Alamo Rent A Car and National Car Rental, a $2.5 billion dollar global
company with over 14,000 employees.
Commenting on his appointment as President of Advantage, Mr. Plamondon
said, "I am so pleased to be joining FSNA at this critical juncture. I
have been impressed with the current Advantage team and look forward to
putting my experience to work toward building another great brand in
The Company would also like to welcome David Mitchell as Chief Financial
Officer of Advantage and Brian Cicco as Vice President of Human
Resources at Advantage.
Commenting on the appointment of the new officers and senior management
team of Advantage, Thomas P. McDonnell, III, the Company's Chief
Executive Officer and Chairman said, "We are pleased to welcome Bill,
David and Brian to the FSNA team. In particular, Bill's years of
experience in the car rental space will be invaluable as we continue
the development and execution of our plans to build the fourth largest
car rental company in North America."
FSNA is a publicly traded company listed on the TSX Venture Exchange.
The Company and its subsidiaries own the following brands: Advantage
Rent A Car, U-Save Car & Truck Rental®, U-Save Car Sales, Rent-A-Wreck
of Canada, PractiCar, Auto Rental Resource Center ("ARRC"), Xpress Rent
A Car and Peakstone Financial Services.
Advantage Rent A Car is currently positioned as a brand, and targets
consumers, in the value-oriented segment of the U.S. rental car
market. As of July 2013, Advantage will operate from approximately 75 locations servicing airports and five additional satellite locations in
hotels in Hawaii and Las Vegas and has a fleet of approximately 23,000
cars, ranging from economy cars to SUVs. Advantage primarily services
the leisure segment of the rental car market and predominantly operates
in key domestic leisure destinations, including California, Florida,
Texas, Colorado, Hawaii and Arizona.
U-Save, together with its subsidiary ARRC, has over 1,100 locations
throughout the United States and is one of North America's largest
franchise car rental companies. Having primarily serviced the local
market for the past 30 years, the Company is expanding into the airport
market with plans for the opening of airport locations in the top 30
markets in the United States and the major airports in Canada. U-Save
currently services 28 airport markets in 11 different states and 7
countries. U-Save Car Sales is an expansion of the U-Save brand into
the car sales market, and provides goods and services to car sales
operators looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the
rights to the Rent-A-Wreck® and the PractiCar® trademarks for all of
Canada. The Rent-A-Wreck® system operates a network of 69 franchise
locations from coast-to-coast in Canada, providing a range of vehicle
rental, leasing and sales options to its customers. The Rent-A-Wreck®
system has been in continuous operation in Canada since 1976.
This press release is incorporated by reference into the Circular in
respect of the merger between FSNA and Adreca Holdings Corp. and other
transaction contained therein. Investors are cautioned that, except as
disclosed in the Circular and in this press release, any information
released or received with respect to the Transaction may not be
accurate or complete and should not be relied upon. Trading in the
securities of FSNA should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the
transaction and has neither approved nor disapproved the contents of
this press release.
Certain statements made in this news release are forward looking in
nature, including statements made with respect to Advantage. The words
"may," "could," "should," "would," "expect," "intend," "estimate,"
"anticipate," "believe," or "outlook" and similar expressions often
identify forward-looking information. By their nature, forward-looking
statements require FSNA to make assumptions and are subject to inherent
risks and uncertainties. The forward-looking statements contained in
this news release are based on certain key expectations and assumptions
made by FSNA. Although FSNA believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking
statements because FSNA can give no assurance that they will prove to
be correct. FSNA's forward-looking statements are qualified in their
entirety by these cautionary statements. In addition, the
forward-looking statements are made only as of the date of this news
release, and except as required by applicable law, FSNA undertakes no
obligation to publicly update these forward-looking statements to
reflect new information, subsequent events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Franchise Services of North America Inc.
For further information:
For further information on FSNA or any of its operating subsidiaries please contact:
Thomas P. McDonnell, III
Franchise Services of North America Inc.