Second Cup to change corporate name to Aegis Brands in bid to start new growth phase
Source Cision Newswire
The Second Cup Ltd. announced today that
it intends to implement a new operating structure in support of its new
strategy. Subject to TSX and shareholder approval, the existing public
company will change its name to Aegis Brands Inc. which will own and
operate the existing Second Cup Coffee Co.
specialty coffee business as part of a portfolio of brands. Steven
Pelton, President and CEO of Second Cup, will assume the role of CEO of
The Company intends to contribute the existing Second Cup Coffee Co.
business to a wholly-owned subsidiary in the new year. Although Second
Cup is the only brand under the Aegis umbrella as of today, Pelton
confirmed that the Company is actively seeking acquisitions with a focus
on the sectors the Company knows best: foodservice, coffee and
The word Aegis means "to sponsor", "to support" or "to
protect", a reflection of the benefits that the parent company structure
will offer to the brands that operate under it.
In addition to
assuming the leadership of Aegis Brands, Pelton will also maintain his
role as President of Second Cup. Second Cup Chief Financial Officer Ba
Linh Le will become the Chief Financial Officer for the parent company.