Franchise Services of North America Inc. Announces Setting of First Closing Date for Acquisition of Advantage

Franchise Services of North America Inc. Announces Setting of First Closing 
Date for Acquisition of Advantage 
- Hertz Acquisition of Dollar Thrifty Paves Way for Acquisition of Advantage - 
CALGARY, Nov. 20, 2012 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. 
("FSNA" or the "Company")(TSX-V: FSN) wishes to provide an update on 
transaction timing further to its previous announcements relating to its 
agreement to acquire (the "Acquisition") Simply Wheelz, LLC, a Delaware 
limited liability company and the owner of the Advantage® Rent-A-Car brand 
("Advantage"), and certain other divested assets (together, the "Assets") from 
Hertz Global Holdings, Inc. ("Hertz") (NYSE: HTZ). The Company also wishes 
to provide an update with regard to the Assets in accordance with the press 
release of Hertz identifying the potential for 13 additional on-airport 
concessions to be acquired by the Company. 
Details Regarding the Hertz Acquisition of Dollar Thrifty 
On November 15, 2012, the United States Federal Trade Commission ("FTC") 
issued a consent order that effectively completed the review of the Hertz 
acquisition of Dollar Thrifty Automotive Group Inc. ("Dollar Thrifty") by the 
FTC. 
Hertz announced today that it has completed its acquisition of Dollar Thrifty. 
The Company's successful completion of the acquisition of the Assets was 
subject to the completion of the Hertz acquisition of Dollar Thrifty. 
Details Regarding Amendments to the Transaction 
On August 28, 2012, the Company announced that, upon completion of the 
Acquisition, the Company would operate Advantage from 62 rental locations 
servicing airports across the United States. As a result of the FTC consent 
order, Hertz will be required to provide the Company, or another FTC-approved 
buyer, with the right to operate on-airport concessions at an additional 13 
airports. As Advantage already operates off-airport locations servicing 
three of these airports, if the Company is the buyer of these additional 
locations, it will result in a net increase of 10 new locations for the 
Company. As a result, the Company may acquire up to 72 rental locations in new 
markets in the United States. 
The Acquisition will proceed by way of the previously announced merger (the 
"Merger") between wholly-owned subsidiaries of the Company and Macquarie 
Capital. Macquarie Capital, through a wholly-owned subsidiary, has entered 
into a purchase agreement with Hertz for the acquisition of the Assets. 
Closing of the acquisition of Advantage by a subsidiary of Macquarie Capital 
is now scheduled to take place on December 12, 2012, with the closings of the 
remaining Assets to occur in 2013. 
The Acquisition and Merger is expected to close in the first quarter of 2013 
and is more fully described in the appendix to the Company's press release 
dated August 28, 2012. 
About FSNA 
FSNA is a publicly traded company listed on the TSXV. The Company and its 
subsidiaries own the following brands: 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. 
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 68 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. 
Caution 
Completion of the transaction is subject to a number of conditions in addition 
to Hertz's acquisition of Dollar Thrifty, including TSX Venture Exchange 
acceptance and approval by the Company's shareholders. The transaction cannot 
close until all required approvals are obtained. There can be no assurance 
that the transaction will be completed as proposed, or at all. 
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. 
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. 
For further information on FSNA or any of its operating subsidiaries  please 
contact: 
Sandy Miller Franchise Services of North America Inc. (386) 238-7035 
SOURCE: Franchise Services of North America Inc. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/20/c9726.html 
CO: Franchise Services of North America Inc.
ST: Alberta
NI: AUT INS MNA  
-0- Nov/20/2012 13:35 GMT
 
 
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