CT Joins MerryMeeting

Published on: February 28th, 2008

February 1, 2008

To All CT Master Franchise Owners, Regional Directors and Local Office Owners

From Wilson and Suzanne McOrist and Chip Reaves

Re Investment By Merrymeeting, Inc. (MMI)

We are very pleased to announce that effective February 1^st, Merrymeeting, Inc (MMI) has acquired majority ownership in CT International and CTUSA. As many of you know, MMI invested in CT USA in December, 2006 and has been working closely with us for the past year to make various improvements to the U.S. operation and develop a longer-term strategy for both CT International and CTUSA.

From the beginning, we have felt that MMI would be a good partner for CT for the following reasons:

1. MMI is an investment company which is exclusively focused on investing in and developing franchise companies. In total, MMI currently owns or controls 6 franchise companies with more than 1,700 franchised locations, approximately 25% of which are located outside of the U.S. As a result, the MMI management team has an excellent understanding of franchising, can help us cost-effectively manage CT and develop value-added systems and processes for the CT office owners.
2. MMI is owned by John Davies, the CEO, and his business partners, the Enthoven family. The Enthoven’s are South Africans and have a long history of international business development. They currently own and operate large businesses in Africa, North America, Asia, Australia and Europe. In fact, both John and the Enthovens feel that the scope of CT’s international business operations is one of the most appealing aspects of our business.
3. MMI has the human and financial capital to invest in CT and help the organization fulfill it’s full potential.

Wilson and Suzanne will have a financial interest in CT for the next 2 years, but will be winding down their involvement with the organization. Chip will be assuming day-to-day responsibility for coordinating CT International’s activities as well as CTUSA. We anticipate adding additional staff at the head office in the U.S. in the near term.

Chip and John Davies will be scheduling visits with most of the Master Franchise owners and various franchise owner groups throughout the world during the next 6 months. John is anxious to meet as many of you as possible and hear from you as to what the head office can be doing to better support your local businesses.

If you have any immediate questions, please contact Chip at [email protected] or +1 404-477-1300 ext 701.