Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, signed a new master franchise deal with Dubai-based company, The Luxury Gourmet Sweets and Candies.
According to the agreement, The Luxury Gourmet Sweet and Candies group will develop 24 dual branded locations of TCBY/Mrs. Fields throughout the United Arab Emirates. Current projects in development are located in some of the world’s largest commercial hubs, including the Dubai Mall, The Mall of the Emirates and the Dubai International Airport, among others. This year, the Company expects at least four locations to open among the Dubai Mall, the Mall of the Emirates, which is the world’s first renowned shopping resort, and the Dubai International Airport, which host more than 60 million travelers annually. The visibility will solidify the Mrs. Fields Cookies and TCBY brands as international product leaders in their respective categories.
In addition, the partnership demonstrates the significant, growing demand for the popular brands throughout the Middle East. Recently, Famous Brands International signed agreements to open locations in The Gulf Cooperation Council (The GCC), which includes the Kingdom of Saudi Arabia, Bahrain, Qatar, Kuwait, Jordan, Egypt and Iraq.
“We continue to enhance Famous Brands’ established presence in the Middle East, in addition to leveraging strategic partnerships in the UAE to showcase our brands in front of a global audience,” said David Bloom, COO of Famous Brands International. “We are confident that the establishment of our brands in these locations will further accelerate our international growth. I look forward to the new partnerships and growth prospects related to the launch of Mrs. Fields Cookies and TCBY in the UAE.”
In addition, Famous Brands International seeks master franchise partners in markets throughout the world, including India, Japan, South America and Mexico. The company has signed recent agreements to develop international franchise locations in Asia-Pacific, Malaysia, Singapore, Indonesia and Vietnam. International sales have increased 10 percent system-wide and Famous Brands expects to open more than 30 international locations in 2014.
With more than 900 locations in 33 countries, Famous Brands International is focusing development efforts on dual-branded stores with a fresh new look. The stores offer three different revenue streams for owners: TCBY, Mrs. Fields and Mrs. Fields in-store gifting stations, inspired by MrsFields.com.
Famous Brands International is a portfolio company of Z Capital Partners, L.L.C., a leading private equity firm founded in 2006 with approximately $1.7 billion of regulatory assets and committed capital under management.
Z Capital Partners, L.L.C. (“Z Capital”) is a leading private equity firm with approximately $1.7 billion of regulatory assets and committed capital under management and with offices in Lake Forest, IL and New York, NY. Z Capital pursues an opportunistic, value-oriented approach in private equity that includes making control investments in middle-market companies that may require growth capital, turnaround, restructuring or other special situations.
Z Capital portfolio companies currently have aggregate worldwide annual revenues of approximately $1.5 billion, sell products in over 30 countries, and have in excess of 190,000 associates directly and through joint ventures.