Country Style Food Services Inc. Preliminary Prospectus Filed By Maple Leaf Foods.TORONTO--(BUSINESS WIRE)--June 22, 1998--Maple Leaf Foods (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :MFI MFI Microfinance Institution MFI Money Flow Index MFI Melt Flow Index MFI Median Family Income MFI Malaria Foundation International MFI Massachusetts Family Institute MFI Multi-port Fuel Injection (automobile) .)(ME:MFI.) Maple Leaf Foods Maple Leaf Foods TSX: MFI is a major Canadian food processing company. The company was originally known as Maple Leaf. It was founded in 1927 as a merger of several major Toronto meat packers, most prominently William Davies Co. Inc. (TSE/ME:MFI.) announced today, that it has filed a preliminary prospectus in connection with an initial public offering and secondary offering in Canada of common shares of Country Style Food Services Inc. ("CSF Cerebrospinal Fluid (CSF) Analysis Definition Cerebrospinal fluid (CSF) analysis is a laboratory test to examine a sample of the fluid surrounding the brain and spinal cord. "; formerly the Franchise Operations of Maple Leaf Foods). Maple Leaf Foods, the sole shareholder of CSF, intends to sell all of its CSF shares as part of the proposed offering. In addition, there will be a treasury component to the offering. CSF is one of Canada's leading franchisers in both the 'coffee and donut' quick service restaurant ("QSR QSR Quick Service Restaurant QSR QoS (Quality of Service) Satisfaction Rate QSR Quality System Regulations QSR Quality Status Report QSR Quality System Review QSR Quarterly Status Report QSR Quality System Requirement ") and the retail 'fresh bake' bakery segments of the retail food industry, operating under the "Country Style" and "Buns Master" brand names, respectively. As at March 31, 1998, CSF had 489 traditional and non-traditional outlets in operation. For the twelve months ended March 31, 1998, CSF's revenue was $58.6 million, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become was $7.2 million and net earnings was $3.1 million. System-wide sales for the same period were $153.7 million. Mr. Tom P. Muir, Executive Vice-President & Chief Financial Officer of Maple Leaf Foods, said: "Country Style and Buns Master are strong retail brands that enjoy very high levels of consumer awareness and confidence which is a credit to CSF's management team, employees and franchisees." Mr. Garry F. Macdonald, President and Chief Executive Officer of Country Style Food Services Inc., said: "CSF has very exciting domestic and international growth prospects that we believe can be fully realized on a stand-alone basis." Mr. Archibald D. McLean, Vice-Chairman and Chief Executive Officer of Maple Leaf Foods, will become Executive Chairman of CSF. The other members of the CSF Board of Directors are Garry Macdonald, Tom Muir, Mr. George J. Engman (Co-Head and Managing Director of Royal Bank Equity Partners) and Mr. Michael Serruya (President and Chief Executive Officer of Yogen Fruz World-Wide Inc.). First Marathon Securities Limited has been appointed the lead underwriter of an underwriting syndicate which also includes CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. , Loewen Ondaatje McCutcheon, Gordon Capital and Levesque, Beaubien, Geoffrion.
CONTACT: Fleishman Hillard
Cynthia Zamaria, 416/214-0701
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