David Wolinsky, Chairman of the Board of Directors of Maple Leaf Distillers Inc. (Maple Leaf) and Salisbury House of Canada Ltd. (Salisbury House) announced today that Tribal Councils Investment Group of Manitoba Ltd. (TCIG) has acquired a 20% equity interest in Salisbury House which makes it the second largest shareholder and a smaller equity interest in Maple Leaf which it expects to increase through potential joint ventures between Maple Leaf and the wholly owned subsidiary of TCIG, Arctic Beverages Limited (Arctic). As well, TCIG has acquired an initial interest in Protos International Inc. (Protos), the majority shareholder of Salisbury House and of Maple Leaf.
Maple Leaf commenced business in 1999 and has been honored as the fastest growing business in Manitoba for the past two years. Having now secured its sales base in Canada, Maple Leaf which presently has in excess of 50 different brands in the market place is moving ahead in 2004 with its entry into the United States and into the world market.
Maple Leaf presently owns and operates a 100,000 square foot state of the art facility in Winnipeg as well as a separate warehouse facilities, and is partnered in its own distillery in Mexico for the production of its tequila product.
Salisbury House is Canada’s oldest major restaurant chain, now enjoying its 74th year of operation. Salisbury House is anticipating record sales this year and plans to move ahead with the introduction of franchise outlets in other provinces across Canada together with an initialpublic offering later this year. Salisbury House shareholders include Protos, Burton Cummings, Lorne Saifer, Earl and Cheryl Barish, the Leonard Baranyk family and Harris Liontas.
Protos, the major shareholder of Maple Leaf and Salisbury House is also the parent company of a number of other Manitoba corporations including Protos International Business Consultants Inc., P.E.T. Plastico Inc., Sugar Sticks Inc., John Aaron Productions Inc. and Protos Media International Inc.
TCIG was formed in 1990 and is still owned equally by the 7 Tribal Councils in Manitoba which represent the 55 First Nation Bands in the Province and as the investment arm of the Tribal Councils and its mandate is to achieve a high return on invested capital and to date it has been very successful and the following are its principal investments:
- Arctic which is the Pepsi-Cola Canada Inc. franchise for northern Saskatchewan, Nunavit, Baffin Island, northern Manitoba and northwestern Ontario, was North American Pepsi Bottler of the year in 2000 (the franchise was recently renewed for a further 32 years).
- First Canadian Health Management Corporation Inc. which is a very high-tech and successful health benefit claims processing service that carries on business in all the Provinces and Territories in Canada and based in Toronto that has processed more than $1 billion in claims for Health Canada in the last 5 years.
- A large minority interest in Rupertsland Holdings Inc. (the other shareholders being Aboriginal in the Yukon, Northwest Territories and Saskatchewan) which is the owner of more than 550,000 units in North West Company Fund; and
- A founding interest in First Nations Bank of Canada which currently has more than $100,000,000 in assets under administration.
Finally it was recently announced that TCIG will acquire a significant interest in the units of Exchange Industrial Group Income Trust which is being formed to acquire 100% of the shares of Perimeter Aviation Ltd. a very successful airline that serves customers primarily residing in Northern Manitoba.
Philip Dorion, Chairman of the Board of TCIG stated that:
“we have for a number of years been interested in becoming a shareholder of Salisbury House and we are delighted with the acquisition of a large block of shares”
Allan McLeod, President & C.E.O., of TCIG stated that:
“as with Perimeter, we expect that there will be significant synergies in the association of TCIG with Salisbury House and with Maple Leaf and with opportunities available with Arctic in the warehousing, packaging and shipping of its products to customers in Northern Manitoba and these investments fit perfectly within the TCIG investment mandate since both corporations are successful and are currently in an expansionary mode and have significant potential in building shareholder value.”
Costas Ataliotis, President and C.E.O. of Maple Leaf and Salisbury House stated that:
“This is a partnership of business organizations driven by young, dedicated businessmen who share a corporate vision and values. We both believe that in this new millennium, to be competitive and to enhance shareholder value, we must look nationally and internationally while at the same time not losing sight of our obligations and responsibilities to community, city and province. The synergies and values that each party brings to the equation are a perfect example of the business template when one and one equals five.”
In addition to being Chairman of the TCIG group, Philip Dorion is one of the most effective business leaders in Manitoba and he is a Director of Manitoba Hydro, and in addition to being President and C.E.O. of the TCIG group, Allan McLeod is also Managing Director of Rupertsland Holdings Inc. and a Director of First Nations Bank of Canada and we are delighted that they will be joining us as Directors.
Retrieved November 21, 2004 from
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