Winmark Corporation Commences Self-Tender Offer to Purchase Up to 875K Shares

Winmark Corporation

announced today the commencement of a self-tender offer to purchase up to 875,000 shares, or approximately 17.5% of its outstanding common stock, for a price of $84.72 per share. The Company intends to finance the tender offer with an expansion of its existing revolving line of credit as well as an additional term loan. The tender offer will expire at 12:00 Midnight, Eastern Time, on May 13, 2015, unless extended or withdrawn. The Board of Directors determined that it is in the Company's and shareholders' best interest to repurchase shares at this time given the Company's financial performance, its access to attractive debt capital, the relatively illiquid trading market for the Company's common stock and desire by its largest shareholder to obtain liquidity for a portion of his holdings for estate planning purposes. Winmark has retained Wells Fargo Bank, N.A. as the Depositary for the tender offer and D.F. King & Co., Inc., as the Information Agent. Copies of the Offer to Purchase, the related Letter of Transmittal and the Notice of Guaranteed Delivery are being mailed to the Company's stockholders. Additional copies of the Offer to Purchase, the related Letter of Transmittal or the Notice of Guaranteed Delivery may be obtained at the Company's expense from the Information Agent at (877) 536-1561 (toll free). Questions regarding the tender offer should be directed to the Information Agent at (877) 536-1561 (toll free). Winmark Corporation creates, supports and finances business. At March 28, 2015, there were 1,099 franchises in operation under the brands Plato's Closet®, Once Upon A Child®, Play It Again Sports®, Music Go Round® and Style Encore®. An additional 110 retail franchises have been awarded but are not open. In addition, at March 28, 2015, the Company had a lease portfolio equal to $42.9 million.