US and Canada Franchise Deal Signed
23 September 2019
Escape Hunt plc
(the "Company" or "Escape Hunt")
US and Canada Franchise Deal Signed
Further to its announcement on 29 April 2019, Escape Hunt (AIM:ESC) is pleased to announce that it has now signed the contract with its US franchising partner, Proprietors Capital Holdings ("PCH"), for a roll-out of new franchise sites across the US and Canada.
PCH is a US-based investment capital company with a wealth of experience in supporting and growing brands as both a franchisee and franchisor. PCH has successfully grown brands including Papa Murphy's, CPR - Cell Phone Repair, PROSE, Miracle Method, Online Trading Academy, and Pedal Pub.
During the last few months, PCH's management team has spent time in the UK getting to know Escape Hunt, and, together with the Escape Hunt management team, has developed a detailed plan to address the market opportunity for escape rooms in the US and Canada. It is expected that PCH will operate its own Escape Hunt sites as a franchisee, as well as operate sub-franchisees where appropriate. PCH will be responsible for providing the resources to fund the roll-out. Both companies look forward to commencing the roll-out of sites in the coming months.
Richard Harpham, Escape Hunt Chief Executive Officer, said:
"We are delighted to have found in PCH a partner that has a proven track record of rolling-out franchises, is well-resourced, and has a deep understanding of the experiential market. With a plan to roll-out escape rooms across the entirety of the US and Canada, this deal represents a significant step towards achieving our goal of growing the franchise estate by two to three times over the medium term."
Scott Evert, PCH Managing Partner, said:
"Escape Hunt sets the bar as the preeminent provider of immersive escape room experiences and we are excited to help bring their games to the US and Canadian markets."
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Enquiries
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Escape Hunt plc Richard Harpham (Chief Executive Officer)
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+44 (0) 20 7846 3322 |
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Shore Capital - NOMAD and Joint Broker Daniel Harris, David Coaten (Corporate Finance) Fiona Conroy (Corporate Broking)
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+44 (0) 20 7601 6128 |
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Peel Hunt LLP - Joint Broker George Sellar Guy Pengelley
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+44 (0) 20 7418 8900
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Yellow Jersey - Financial PR Harriet Jackson Dominic Barretto |
+44 (0) 20 3004 9512
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The person arranging release of this announcement on behalf of the Company is Richard Harpham, Chief Executive Officer.
About Escape Hunt plc
The Escape Hunt Group is a global leader in providing live escape-the-room experiences with a network of owner-operated sites in the UK and a global network of franchised outlets in six continents. The Company was re-admitted to AIM in May 2017 and has a strategy of creating high quality premium games and experiences, which incorporates branded IP content.
About Proprietors Capital Holdings
Founded in 2004, PCH is a Partner focused private equity firm focused on dramatically growing small businesses to be leaders in their respective industries.
https://www.proprietorscapital.com
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