Acquisition brings renewed focus and vision to the future of the brand

TORONTO, July 30, 2014 /CNW/ – Searchlight Capital Partners, L.P.
(“Searchlight”) and its partners today announced the acquisition of M&M
Meat Shops Limited (“M&M Meat Shops” or the “Company”), a Canadian
company based in Kitchener, Ontario. Together with the acquisition, the
Company is also pleased to announce the appointment of a Chief
Executive Officer, Andy O’Brien, and a Chief Financial Officer, Sam
Florio.

“M&M Meat Shops is an iconic Canadian brand with a strong and
established network of dedicated and successful franchise partners,”
said Erol Uzumeri, a founding partner of Searchlight. “With the right
investments, we look forward to realizing the growth potential of the
Company.”

As the largest independent retailer of specialty frozen food in Canada,
with approximately 400 locations nationwide, M&M Meat Shops is known
for its high quality products, its friendly customer service, and its
convenient, single aisle stores. Mac Voisin founded M&M Meat Shops in
1980, and he will remain an advisor to the Company. “Canadians love and
trust M&M Meat Shops because they can count on the quality and
convenience of its products. I am confident that the new team will
continue to ensure that the brand remains a Canadian favourite,” said
Mr. Voisin.

Mr. O’Brien and Mr. Florio will join the Company immediately. Mr.
O’Brien has over 25 years of experience in the food industry. Most
recently, he was the CEO of The WORKS Gourmet Burger Bistro, where he
led the expansion of the company from six to twenty seven stores.
Previously, Mr. O’Brien was the President of Kelsey’s Bar & Grill and
Montana’s Cookhouse, where he managed a franchise network of 200 stores
across Canada. Mr. Florio was formerly the Vice President of Finance
and Business Planning at Cara Operations Ltd. Previously, Mr. Florio
held a number of finance and business development roles at Mars, Inc.

“Andy and Sam are great leaders that share our passion for the M&M Meat
Shops brand. By working with the existing employees and the franchise
partners, we are confident that they will lead the business to even
greater success,” added Mr. Uzumeri.

About Searchlight Capital Partners, L.P.
Searchlight Capital Partners, L.P. (“Searchlight”) is a private
investment firm founded in 2010 by senior partners formerly with
industry leading investment management firms. Searchlight currently
manages over $1 billion, invests in a wide range of industries in North
America and Europe, and has offices in Toronto, New York, and London.
For more information, visit www.searchlightcap.com.

SOURCE Searchlight Capital Partners, L.P.