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Roadking and Afton partner to grow 241 Pizza in W. Canada

October 30, 2003

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BURLINGTON, Ontario and CALGARY, Alberta—Afton Food Group Ltd. and Roadking Travel Centres Inc. announced plans to expand through co-branding Afton's 241 Pizza and Robin's Donuts brands throughout Alberta, British Columbia, Nunavut and the Yukon Territories.

Specific terms of a Letter of Intent between the two firms weren't disclosed in a joint news release. Roadking currently has two roadside lodging, fuel and retail centers, while Afton operates more than 350 quick-service food operations in Canada.

The transaction is subject to Roadking's receipt of a Disclosure Statement from Afton, plus the approval of Canada's TSX Venture Exchange.

Operationally, Afton has struggled throughout 2002 and 2003. It has posted quarterly losses for several consecutive periods, and this year it closed its 241 Pizza, one-number call center (see related stories ).

In the release, Glen Hommy, president and CEO of Roadking, and Kevin Watson, the newly installed president and CEO at Afton, issued a joint statement saying shareholders of both companies "should all benefit from this strategic relationship."