At the recent 40th Anniversary celebration of the founding of Global Pet Foods, the Senior Executive Team of James (Jim) Walker, Paul Thomson and Dino Fragaglia (WTF Holdings Inc.) announced the completion of their purchase of a majority shareholding in Global’s parent company – Franchise Bancorp Inc. (FBI), a publicly traded corporation which owns the controlling interest in Global Pet Food Stores Inc. (170 stores) and Living Lighting Inc. (22 stores).
The day-to-day franchise operations along with the functional roles of the Senior Executive Team will remain similar, but with Fragaglia replacing Walker as President of Global Pet Food Stores Inc.; Thomson assuming the role of Chief Executive Officer and Walker moving to Chairman of the Board. Fragaglia will focus on operations, Thomson on finance and management and Walker on business development.
WTF intends to make a bid for the remainder of the FBI shares.