Aug. 19, 2004
SINGAPORE — Shareholders of Singapore-based Inno-Pacific Holdings, owner of Shakey's Pizza, approved the sale of the 61-unit chain on Aug. 20.
According to an announcement made on the Singapore Stock Exchange Web site, the approval clears the way for the sale of pizza chain to Jacmar Companies, currently a 19-unit Shakey's franchisee.
Jacmar bought Shakey's Inc. for $4.5 million dollars, and will operate it under the name of Shakey's Restaurants Franchising Company. The sale is expected to be official on Aug. 31.
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