ATLANTA, GA--(Marketwire - November 8, 2010) - FOCUS Brands, an affiliate of Roark Capital, announced today that it has completed the purchase of Auntie Anne's, the franchisor of the world's largest hand-rolled soft pretzel chain. Auntie Anne's is headquartered in Lancaster, Pa., and has nearly 1,100 stores in 44 states and 21 countries.
"We're thrilled to welcome Auntie Anne's into the FOCUS Brands family," says FOCUS Brands CEO Russ Umphenour. "Their high-quality products, efficient operations and people-focused philosophies make them the perfect addition to our growing portfolio. We look forward to the exciting days ahead."
Auntie Anne's President and Chief Operating Officer, Bill Dunn adds, "The Auntie Anne's brand, our franchisees and our employees are looking forward to shaping the next chapter of our 22-year history with the new ownership. In addition to the alignment of company philosophies, Roark Capital and FOCUS Brands' proven results made them the perfect choice for taking Auntie Anne's to the next level, both domestically and internationally."
With the addition of Auntie Anne's, FOCUS Brands now has six franchise brands with more than 3,300 locations generating $1.4 billion in annual system-wide revenues in 47 states and 42 countries. Auntie Anne's joins sister companies Carvel Ice Cream (acquired in 2001), Cinnabon (2004), Seattle's Best Coffee (certain international rights in 2004), Schlotzsky's (2006) and Moe's Southwest Grill (2007).
Auntie Anne's represents Roark Capital's 19th franchise investment and 8th investment in the restaurant industry. Other Roark franchise companies include Batteries Plus, Fast Signs, McAlister's Deli, Money Mailer, Pet Valu, Primrose Schools and Wingstop.
Further terms of the agreement were not disclosed.
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth prospects and revenues ranging from $20 million to $1 billion. Roark focuses on middle-market investment opportunities through family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions and corporate divestitures. Specific areas of focus include franchise, food and restaurants, marketing services, environmental services and business services. Roark has acquired 19 franchise/multi-unit brands that collectively have approximately 3,300 franchisees and $4.5 billion in system-wide revenues across 50 states and 43 countries. The firm has more than $1.5 billion of equity capital under management. For more information, please visit www.roarkcapital.com.
About FOCUS Brands Inc.
FOCUS Brands' subsidiaries are the franchisors and operators of more than 2,200 ice cream shoppes, bakeries, restaurants and cafes under the brand names Carvel, Cinnabon, Schlotzsky's, Moe's Southwest Grill and Seattle's Best Coffee. Based in Atlanta, the primary objective of FOCUS Brands is to "FOCUS on making people happy." Please visit www.focusbrands.com to learn more.
About Auntie Anne's
Auntie Anne's is the world's largest hand-rolled soft pretzels franchise known for mixing, twisting, and baking pretzel products to golden brown perfection in full view of customers. With a variety of snack and meal options for people on-the-go, Auntie Anne's offers a "Pretzel Perfect Guarantee" which simply states, "We guarantee you'll love your pretzel or we'll replace it with one that you do." Please visit www.auntieannes.com to learn more.
Contact Information:
Contact:
Jennifer Dempsey
FOCUS Brands Inc.
847.945.1300, ext. 227
