Global Fast Casual Restaurant Market Is Expected To Reach $209.1 Billion By 2027: Company Hires Two Highly Regarded Executives With Industry Experience
LAS VEGAS, NV / ACCESSWIRE / December 11, 2020 / Pacific Software, Inc. (OTCPINK:PFSF) a company that is focusing on the accumulation of both mini and medium sized fast casual and casual restaurant chains throughout the United States, recognizing the substantial opportunity presently available throughout the industry given the unfortunate circumstances associated with the onset of the Covid pandemic, today announced that the Company has changed its business plan and is entering into one of the fastest growing global markets, the global fast casual restaurant market, which generated $125.6 billion in 2019, and is expected to garner $209.1 billion by 2027, witnessing a CAGR of 10.6% from 2021 to 2027.[1]
Along with this strategic repositioning, the Company has acquired two experienced industry insiders as their new CEO and COO. Mr. Isaac Onn, is the Company's new CEO and Michael Finkelstein, is the Company's new COO who will be responsible for bulking up the company through restaurant acquisition. Both are also on the Board of Directors.
Isaac Onn, the Company's new CEO, an attorney whose main practice is in corporate & civil law. He holds a Graduate in Marketing Management at the Tel-Aviv College of Management; a degree in Global Petroleum Economics from Tel-Aviv University; a Law, LLB, from Ono Academic law school; and is a Member of the Israeli Bar. He is also on the Board of Cybra Corp', MTS, Intellect Neurosciences, Ness Energy of Israel, See World Satellites and the UAV Corp.
Michael Finkelstein, the Company's new COO, is a graduate of McGill University with a Major in Economics. Michael received his Diploma in Public Accounting after completion of his BA. He was then granted his Chartered Accountancy in Canada ( equivalent to a US CPA) after successfully passing the Uniform Qualifications Exams. His public accounting, financial and taxation experience is primarily derived from his time at Arthur Andersen & co where he rose to the level of Income Tax Manager prior to joining the sell side of the investment advisory industry for almost two decades. Michael became one of Canada's top producing investment advisors and was a multi-year award winner for his firm as a revenue producer. While in the Investment Advisory Business, Michael cofounded a hedge fund which specialized in private investments in public equities, which, at its peak grew to be $100mln in assets. The Fund was liquidated in 2013 , with an average annual return ( audited) of approximately 20%p.a. Subsequently, and to date, Michael has consulted with high net worth family offices in Europe as a reorg and recapitalization specialist, and serves on the Board of Directors of several restaurant and food service organizations. Michael also serves as Chief Operating and Financial Officer within these entities and is responsible for their profitable growth and expansion.
New Company CEO: Isaac Onn, said: "Our new focus and business plan will give the Company a great opportunity to reach out to investors and to raise substantial capital for the Company which will further enable us to target, acquire and improve an ever increasing portfolio of restaurant chains. At the same time, given the extreme dislocation in the industry, we will seek out and acquire additional restaurant properties which may potentially be very accretive to the already superb pairing with our present assets."
New Company COO: Michael Finkelstein, added: "I cannot remember a time when the opportunities and potential for profitable deployment of capital within the restaurant industry were so outstanding. High value leases at reasonable prices and excellent restaurant operations and assets available for a fraction of their worth in more normal circumstances. We look forward to applying our expertise to the accumulation of a substantial and cash flowing portfolio and to creating a public company profile known for its quality execution."
The Company will shortly be implementing a name change to more accurately reflect its new business plan and market and it is also presently finalizing its new website which will be launched in the coming weeks, at which time it will be available at www.pacificsoftwareinc.com.
Pacific Software, Inc.
Pacific Software, Inc. (OTC PINK:PFSF) is a company whose management team with its extensive food service experience, that is focusing on the accumulation of both mini and medium sized fast casual and casual restaurant chains throughout the United States, recognizing the substantial opportunity presently available throughout the industry given the unfortunate circumstances associated with the onset of the Covid pandemic.
The management and acquisition team has abundant food service experience and has and will continue to capitalize on societal trends that are becoming more focused on fast casual eat-in and, especially takeout and delivery, in its many forms. The opportunity is potentially highly significant given that 30-40% of the restaurant stock in the United States may be permanently shuttered due to Covid and its effects on the industry.
Management's strategy is to focus on and build a cash flow machine within a portfolio of a diverse but high- quality chain assets. The tactics to be utilized may vary-outright buyouts, partnerships, asset purchases, - all including cost rationalization, revenue optimization and expansion of the chains' footprint in great locations assumed through sublease or outright lease or real estate ownership, where appropriate.
Forward-Looking Statements:
This press release may include certain statements that are forward - looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. The forward-looking statements in this press release are based on Pacific Software, Inc, current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include Pacific Software's anticipated new developments, business prospects, financial performance, strategies and similar matters. Pacific Software disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
[1] Allied Market Research via https://www.globenewswire.com/news-release/2020/10/20/2111152/0/en/Global-Fast-Casual-Restaurant-Market-to-witness-a-CAGR-of-10-6-from-2021-to-2027-AMR.html.
Contact:
Pacific Software Inc.
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+1 844 513 0056
SOURCE: Pacific Software, Inc.