Papa Bello CEO Sells Majority Ownership Position to Aero Financial

LAS VEGAS, Sept. 4 // PRNewswire-FirstCall // Papa Bello Enterprises (Pink Sheets: PAPA) announced today that Aero Financial has purchased 20,000,000 shares of stock from the CEO of Papa Bello, Chase Canfield, giving a majority ownership stake to Aero Financial. As controlling owner, Aero Financial will continue to provide financial, consulting and communications services to Papa Bello.

In accordance with the transaction, Chase Canfield will resign his position as CEO with Papa Bello to allow him to pursue other business opportunities while actively consulting with the company and assisting in the transition process. Accordingly, Jim Price, CEO and Chairman of Aero Financial will become the Papa Bello interim CEO.

Jim Price, Chairman/CEO of Aero Financial, Inc. states, "Aero Financial is very excited to acquire the controlling interest in Papa Bello Enterprises. We have been working with the company for almost two years and we sincerely believe that it has the potential to become one of the most successful franchises in the industry. Their business plan has been well thought out, and they have hit many of their growth projections ahead of schedule. We believe that through this transaction Papa Bello will continue its growth, both domestically and worldwide."

Chase Canfield, CEO of Papa Bello Enterprises states, "I believe this acquisition with Aero Financial will provide Papa Bello the additional capital, infrastructure, and marketing resources it needs to diversify its' opportunities for future expansion and long-term sustainability. As I resign my position of CEO to pursue other opportunities, I want to thank all those who have helped me build this company over the years. I express my gratitude to all our franchisees, vendors, attorneys, accountants, investors, customers, Wal-Mart, Aero Financial, my mentors, my family, and of course the entire Papa Bello team."

About Aero Financial:

Founded in 1992, Aero Financial is a diversified Holding Company with core competency in Strategic Advisory and Consulting. Aero provides growth capital as well as a full range of essential support and organizational services to private and public companies, starting from business plan to IPO and everything in-between. Subsidiary, Aero Financial Sri Lanka, provides professional management and consulting services for governments and corporations throughout the Middle East and Southeast Asia. Aero is headquartered in San Diego, and has offices in Dallas, Baltimore, London, Dubai, and Sri Lanka.

About Papa Bello Enterprises

Founded in 2005, Papa Bello Enterprises is a Las Vegas, NV based corporation that owns, operates, and franchises Italian style eateries in the United States. The company currently has a master lease agreement with Wal-Mart. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service.

SOURCE Papa Bello Enterprises

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

SiempreTax
SiempreTax+ is a low-investment tax franchise opportunity. SiempreTax+ specializes in tax return preparation for individuals and small businesses in...
Ziggi's Coffee
There's nothing quite like the perfect cup of coffee. It wakes you up and gets you on the right path. Now, you've got the chance to build a lifestyle...
Massage Envy
Massage Envy clinics are designed to provide a compelling image, an inviting and functional environment and the highest degree of operational...
RedBrick Pizza
At RedBrick Pizza (R), old world traditions meet new world recipes to create a better-for-you pizza experience. Baking pizzas to perfection at 1000...
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...
Share This Page

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.