Industry News | March 1, 2004

Tim Hortons to Acquire Bess Eaton

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Tim Hortons (New England), Inc., a subsidiary of Wendy's International, Inc., announced today a conditional agreement to acquire certain real and personal property assets of Bess Eaton Donut Flour Co., Inc. and Louis A. Gencarelli, Sr. The assets are related to up to 48 Bess Eaton coffee and donut restaurants throughout Rhode Island, Connecticut and Massachusetts.

Bess Eaton announced that it has filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Rhode Island.

The agreement and the transaction are subject to the Bankruptcy Court proceedings, the issuance of orders by the Bankruptcy Court containing terms acceptable to Tim Hortons (New England), Inc. and various other closing conditions.