Worldwide Franchise Group (Calgary, AB, Canada), a wholly owned subsidiary of the Planet Bottle Corp., has acquired Sign*A*Rama’s (West Palm Beach, FL) Canadian master-franchise license from United Franchise Group, Sign*A*Rama’s parent company. Worldwide will acquire existing franchise agreements with Canadian franchisees ad obtain the rights to develop and operates future Sign*A*Rama centers throughout Canada.
Worldwide reportedly plans to grow the number of Canadian franchises from its current 34 to approximately 100 by 2016. The deal gives Worldwide control of approximately $10 million of annualized revenue at the franchise level. The Planet Bottle Corp. is pursuing funding by issuing $1.2 million in promissory notes.
Planet Bottle’s CEO, Patrick Rooney, said the company plans to promote the sale of signage made from recycled plastic.