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TPF Group Buys Hell (NZ)

1 December 2006Media statement: For immediate release

TPF GROUP BUYS HELL (NZ)HELL

Director Warren Powell and TPF Group General Manager Colin Mellar today announced the unconditional purchase of the HELL (NZ) master franchise by TPF Group.Warren Powell said that the sale marked the end of one era for the iconic New Zealand pizza brand and the beginning of a new, exciting period in the company’s history.

“It goes without saying that the decision to sell was the hardest decision of our lives. This company was, and always will be, our baby and we will always have an emotional attachment to the brand and the incredible people who have helped make it such an unbelievable success,” said Warren Powell.

“As anyone who has built a company from scratch will know, it is incredibly difficult to decide when is the best time to sell, if in fact there is ever a ‘good’ time, but we sincerely believe Hell will be lifted to a new level, a level we could not reach on our own.“Having made the decision to sell, I’m convinced we have chosen the best people to continue to grow this brand.“I have worked with TPF Group Managing Director] Dennis Jones in a former life and have no hesitation in endorsing him as not only very astute and compassionate but up there with the best fast foodies around.”

New HELL GM Colin Mellar said he relished the opportunity to lead the HELL brand into the future.“We acknowledge the huge achievements of the founders of HELL, who built the company from a single outlet in 1999 to over 60 stores today. We’ve watched HELL grow from brash young upstart to its position as a significant force in the convenience food category.

“We are extremely passionate about this brand and HELL’s loyal customers can rest assured that we won’t be tampering with what has been an extremely successful story so far. “The edginess, the passion, the commitment to quality, and above all the HELL attitude will not change. Obviously we can’t replace the original HELL demons, and I will definitely be looking to make sure the journey forward continues to be just as fun, exciting and eventful as it has been.

“Another thing I share with the founders of HELL is a passion to cement HELL’s position as the leading pizza business in New Zealand. We want to enrich more people’s lives by continuing to grow the HELL chain.Colin Mellar brings considerable experience to the HELL franchise, and has a successful track record in senior roles with McDonalds, United Video and Pizza Haven.

“The feedback we’ve had from HELL franchisees has been extremely positive and I’ve been impressed by the energy and passion within the network.“We recognise that our franchisees are the true champions of the brand and they have been an integral part of the success of this business. We intend to work closely with them in formulating our plans for the future.

“The management of TPF Group has been in the franchise business themselves for over 10 years, and we’ve developed systems and processes that have enabled the Burger King franchise network to thrive in a highly competitive market.“HELL will benefit from being able to draw on expert services, infrastructure, supply chain and management expertise of TPF Group.

We can also bring additional knowledge and experience to the franchise in the areas of distribution, procurement, information technology, human resources, finance and administration,” said Colin Mellar.TPF Group is a privately owned company that brought the Burger King franchise to New Zealand in 1995.

The company employs more than 2,500 people in more than 66 stores throughout New Zealand.TPF Group has bought the NZ master franchise of HELL. Earlier this year HELL founders Stuart McMullin and Callum Davies left for the UK to set up HELL (UK), which is not included in the purchase.

ENDS

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