Redishred Capital Corp. awards two new PROSHRED(R) franchises in Phoenix, AZ and Atlanta, GA
MISSISSAUGA, Oct. 5, 2011 /PRNewswire/ – Redishred Capital Corp. (TSXV: KUT) is
pleased to announce that its subsidiary, Proshred Franchising Corp.
(“PFC”), has entered into agreements with two new franchisees to
operate PROSHRED(Ã‚®) shredding businesses. The new PROSHRED(Ã‚®) franchise offices will be located in Phoenix, AZ and Atlanta, GA. The
company currently has 19 locations in operation and with the addition
of these new locations PROSHRED(Ã‚®) has now secured two regionally important markets in the South West and
South East of the United States. Redishred expects its new franchisees
to commence operations in early 2012.
Redishred’s President John Prittie commented, “We are very excited to
award two new franchisees in the month of September, and are very happy
to add to our collective team two franchisees with a wealth of business
and operational experience. These locations are important as they help
fill our location foot print in very key markets”.
Greg Galvez, our new Atlanta franchisee, stated “I view the Proshred
brand and operating system as assets that can be leveraged to produce
significant returns on my investments over time. The quality of the
people involved is what ultimately swayed my decision to act now.”
Joe and Patty Caradonna, the new Phoenix franchisee, noted “We had been
researching the shredding industry for approximately three years, and
contemplated opening our own shredding operation. While conducting our
research, we discovered and eventually selected Proshred because we
firmly believe that there is solid demand for a quality customer
service oriented document destruction firm such as Proshred in the
greater Phoenix area. Proshred attracted us because of its solid
infrastructure and support system in addition to its successful base of
existing locations. I look forward to growing a successful and quality
driven business with the Proshred organization.”
ABOUT OUR NEWEST FRANCHISEES
Greg Galvez has nearly three decades of success building brands and
leading sales and marketing organizations around the world. He has held
leadership roles of increasing responsibility at American Hospital
Supply, Baxter International and for over two decades at The Coca-Cola
Company (“Coke”). Most recently, Greg founded and operated neXstep
beverages, LLC (a subsidiary of The Coca-Cola Company) a business
dedicated to capturing niche market growth opportunities; leveraging
Coke’s global trademarks, formulas and consumer insights.
Joe and Patty Caradonna are experienced entrepreneurs, who have owned
two logistics and transportation companies in the New York City region
for 34 years. Both Joe and Patty have been responsible for sales,
operations and finance for their businesses since their inception.
Redishred Capital Corp. is the owner of the PROSHRED(Ã‚®) trademarks and intellectual property in the United States. PROSHRED(Ã‚®) shreds and recycles confidential documents and proprietary materials
for thousands of customers in the United States and Internationally in
all industry sectors. PROSHRED(Ã‚®) is a pioneer in the mobile document destruction and recycling industry
and has the ISO 9001:2008 certification. In addition to the ISO
certification, most of our franchise and corporate locations are NAID
certified. It is PROSHRED(Ã‚®)’s vision to be the ‘system of choice’ and provide shredding and
recycling services on a global basis.
System sales for all PROSHRED(Ã‚®) locations were just shy of $7.5M during the first half of 2011, which
is up more than $1M (19%) over the same period in 2010.
Note: The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
This news release contains forward looking statements that reflect the
current expectations of management of Redishred and Redishred’s future
results, performance, achievements, prospects and
opportunities. Wherever possible, words such as “may”, “will”,
“estimate”, “believe”, “expect”, “intend” and similar expressions have
been used to identify these forward looking statements. These
statements reflect current beliefs and are based on information
currently available to management of Redishred. Forward looking
statements necessarily involve known and unknown risks and
uncertainties. A number of factors, including those discussed in the
2010 management discussion and analysis under “Risk Factors”, could
cause actual results, performance, achievements, prospects or
opportunities to differ materially from the results discussed or
implied in the forward looking statements. These factors should be
considered carefully and a reader should not place undue reliance on
the forward looking statements. There can be no assurance that the
expectations of management of Redishred will prove to be correct.
In particular, certain statements in this document discuss Redishred’s
anticipated outlook of future events. These statements include, but are
not limited to:
(i) The commencement of operations which may be delayed by the franchisees inability to secure the required facilities and equipment to operate a Proshred franchise.
Readers are cautioned that such forward looking statements are subject
to certain risks and uncertainties that could cause actual results to
differ materially from these statements. Redishred can give no
assurance that actual results will be consistent with these
SOURCE RediShred Capital Corp.