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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20509
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 20, 1997
THE COLONEL'S INTERNATIONAL, INC.
(Exact name of registrant as specified in charter)
MICHIGAN 2-98277C 38-3262264
(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
620 SOUTH PLATT ROAD
MILAN, MICHIGAN 48160
(Address of principal executive offices) (Zip Code)
(313) 439-4200
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS.
On February 20, 1997, The Colonel's International, Inc. issued
the press release attached as Exhibit 99 to this Form 8-K.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND
EXHIBITS.
(c) Exhibits:
99 Press Release dated February 20, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Dated: February 20, 1997 THE COLONEL'S INTERNATIONAL, INC.
By s/Richard S. Schoenfeldt
Richard S. Schoenfeldt
Vice President-Finance and Chief
Financial Officer
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EXHIBIT 99
THE COLONEL'S INTERNATIONAL, INC.
NASDAQ SYMBOL COLO
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: Richard S. Schoenfeldt
Chief Financial Officer
(313) 439-4200
THE COLONEL'S INTERNATIONAL, INC. ANNOUNCES ELECTION OF NEW DIRECTORS AND
OFFICERS
MILAN, MICHIGAN (February 20, 1997): At a special meeting of the
Company's board of directors held on February 20, 1997, six new directors
were elected to the Company's board. The new members of the board and
officers are:
Mrs. Patsy L. Williamson, Chairwoman of the Board of Directors
Mr. Michael J. McCloskey, Vice-Chairman of the Board of Directors and
Chief Executive Officer
Mr. Mark Stevens, Director and President
Mr. John M. Darcy, Director
Mr. Donald Gorman, Director
Mr. Ben Parr, Director
Simultaneously with the election of these new directors and officers, Mr.
Donald J. Williamson, the Company's founder and former Chairman, announced
his retirement from active involvement with the Company. Mr. Williamson
will continue as a senior spokesperson and advisor for the Company. In
addition Ms. Lisa Alexander and Mr. Gary Moore announced their resignations
as active board members.
In announcing the election of the new directors and officers, Mr.
Williamson expressed his thanks and appreciation for the service provided
by Ms. Alexander and Mr. Moore over the past year. Mr. Williamson also
expressed his enthusiasm for and confidence in the new board members and
officers.
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Mrs. Williamson, the wife of the Company's founder and President of Patsy
L. Williamson Buick and related automobile dealerships, brings a wealth of
automotive industry experience to the Company. Patsy L. Williamson Buick-GMC,
Inc. has been ranked the number one Buick dealership in the United
states for the past three calendar years (1994-1996).
Mr. McCloskey is a financial and operations executive with twenty years
experience who brings the Company knowledge in specialty financings and
company operations as well as international experience in the Pacific Rim.
Mr. McCloskey was formerly a founding partner with Stone Pine Capital of
Denver, Colorado, a firm specializing in investment and merchant banking
and, prior thereto, a senior investment banking officer with two Wall
Street investment banks.
Mr. Stevens, currently the President of Patsy L. Williamson Buick-GMC,
Inc., will add over thirty years of automotive dealership and related
experience to the Company's board and as President of the Company.
Mr. John M. Darcy is an independent businessman engaged in company
development and management. Mr. Darcy was formerly involved in the
development and management of specialty starch plants with PennWest, Inc.
and was President of Avis Enterprises from 1989 to 1990 where he managed
that company's auto dealerships and other activities. Prior to serving
with Avis Enterprises, Mr. Darcy was Group General Manager and Corporate
Vice President to Nestle Enterprises USA, where he was responsible for all
consumer products representing sales of approximately $1.5 billion during
the last year that Mr. Darcy held his position with Nestle.
Mr. Parr was formerly the Director of Research for the State Farm Insurance
Companies and was a motivating party in the creation of the Certified
Automotive Parts Association ("CAPA"). CAPA is a non-profit organization
established in 1987 to develop and oversee a testing and inspection program
certifying the quality of parts used for auto body repairs. Mr. Parr's
experience with both State Farm and CAPA will add immeasurably to the
Company's ability to service the automotive after-market parts business.
Mr. Gorman, the owner and President of P.G. Products located in Cincinnati,
Ohio, one of the Company's key customers, will add a significant
perspective to the Company's board to assure that the Company's management
is aware of customer needs and directions.
The Colonel's, Inc., a subsidiary of the Company based in Milan, Michigan,
is a leading domestic manufacturer of plastic replacement bumpers and
facias for the aftermarket industry in North America. The Colonel's Truck
Accessories, Inc., a subsidiary of the Company, produces truck bed liners
for sale to new vehicle dealers and in the automotive after-market.
Brainerd International Raceway, the Company's other subsidiary, owns and
operates Brainerd International Raceway, a multi-purpose motor sports
facility located in Brainerd, Minnesota.
