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Franchise Services of North America Inc. Provides Transaction Update and Announces Streamlining of Management

Franchise Services of North America Inc. Provides Transaction Update and 
Announces Streamlining of Management 
CALGARY, Dec. 7, 2012 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" 
or the "Company")(TSX-V: FSN) wishes to provide an update on the 
previously announced 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. (NYSE: HTZ). Closing of the 
acquisition of Advantage by a subsidiary of Macquarie Capital is scheduled to 
take place on Wednesday, December 12, 2012, with the acquisition of remaining 
Assets to occur in 2013. The Acquisition of Advantage by FSNA 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. 
In contemplation of the Acquisition, the Company's board of directors has 
decided to streamline the Company's executive management, effective today. 
Thomas P. McDonnell, III, formerly the Company's Co-Chief Executive Officer 
and Co-Chairman will be the Company's sole Chief Executive Officer and 
Chairman. Mr. Sanford Miller, the former Co-Chief Executive Officer and 
Co-Chairman, will not continue in an executive capacity with the Company but 
will continue to serve as a director. 
Commenting on the recent developments, Mr. McDonnell said, "I am excited by 
this new role at the Company and look forward to completing the acquisition of 
Advantage." 
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, 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: 
Thomas P. McDonnell, III Franchise Services of North America Inc. (601) 
713-4333 
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/December2012/07/c7210.html 
CO: Franchise Services of North America Inc.
ST: Ontario
NI: AUT INS MNA  
-0- Dec/07/2012 13:44 GMT
 
 
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