Corner Bakery Cafe Continues Rapid National Growth with Expansion into California, Oklahoma, Florida and Massachusetts
New multi-unit agreements to add more than 60 new restaurants
DALLAS, Aug. 15, 2013 /PRNewswire/ -- Corner Bakery Cafe today announced that it is entering the Oklahoma and Massachusetts markets, as well as three new markets in Florida and California as part of five multi-unit restaurant franchise agreements.
The agreements represent nine new restaurants in San Diego, seven in Oklahoma, 14 in Tampa, 10 in Northeast Florida and 21 in Boston. The first cafes in each market are expected to open next year.
Much of the rapid growth can be attributed to Corner Bakery Cafe's emphasis on multi-unit national expansion and commitment to partnering with respected franchise leaders and operators in the restaurant industry who bring value and expertise to the brand. In addition, Corner Bakery Cafe recently promoted Gregg Koffler to Vice President of Franchise Sales to spearhead overall sales and growth of the franchise division for the fast-casual brand.
"These new markets are a perfect fit for Corner Bakery Cafe," said Koffler. "Each community is known for its strong neighborhoods and with our neighborhood approach to development, we expect each new restaurant to quickly become a favorite gathering place for local families and friends."
Overall, the agreements add 61 new cafes, raising the total to almost 300 committed cafes, as the company moves forward on its goal to more than double its U.S. footprint in the next three to four years.
"As a leading brand in the fastest growing segment of the restaurant industry, there is no question that Corner Bakery Cafe has an advantage with *$2.3 million AAVs and outstanding unit level economics," said Koffler. "Adding to that advantage, our new franchise partners include some of the most successful veteran restaurant professionals in the industry."
The new franchise partners include:
- FEAST California Cafe, LLC, through its FEAST Foods, LLC partnership group, owns and operates more than 170 Jack in the Box restaurants in Southern California and the Pacific Northwest U.S., as well as several Denny's restaurants in Southern California, plans to open nine new Corner Bakery Cafes in San Diego.
- CBCOK, LLC, which also owns and operates more than 30 hotels nationwide including Hilton, Marriott and IHG Hotels, as well as Subway, plans to open seven new Corner Bakery Cafes throughout Oklahoma.
- CB Restaurant Holdings, which also owns and operates more than 25 Wendy's restaurants in Southern Florida and Panama, plans to open 14 new Corner Bakery Cafes in and around Tampa.
- Lee-Wesley Restaurants, LLC, which also owns and operates several Panda Express, Burger King, Nathan's Famous, Auntie Anne's and Taco Bell restaurants, plans to open ten new Corner Bakery Cafes in Northeast Florida.
- Parikh Network, which owns 68 Popeyes Louisiana Kitchens, plans to open 21 new Corner Bakery Cafes in and around Boston.
For Ben Eramya, owner and operator of FEAST Foods, LLC, the decision to franchise with Corner Bakery Cafe was an easy one. "Corner Bakery Cafe has a clear understanding of its brand vision, which is consistently demonstrated by the way they bring to life their core values in everyday business," said Eramya. "I am in absolute love with the food and the diverse menu options Corner Bakery Cafe offers. The leadership team has a great understanding of how dynamic quality food is important to attracting guests to the brand. And the leadership team has a clear understanding of how important it is to involve and embrace its franchise partners in efforts towards bringing their brand vision to life, which will surely enable the brand to remain relevant in the guests' eyes forever."
Corner Bakery Cafe's made-to-order menu features hot breakfast scramblers, signature paninis and sandwiches, homemade soups, hand-tossed salads, pastas and indulgent sweets while providing a place to gather with family and friends. With more than 150 company-owned and franchised locations in 14 states and Washington, D.C., Corner Bakery Cafe provides a robust, best-in-class catering platform, presenting fresh food perfectly packaged for delivery or pick up.
More information on Corner Bakery Cafe franchise business opportunities is available at www.CornerBakeryCafe.com/Franchise.aspx.
About Corner Bakery Cafe
Corner Bakery Cafe is a fast-casual restaurant serving breakfast, lunch and dinner to guests in 14 states and Washington, D.C. Established in 1991, Corner Bakery Cafe restaurants are owned and operated by CBC Restaurant Corp. with more than 150 company-owned and franchised locations around the country. Founded on a philosophy of creating a place for people to relax and gather with family and friends, Corner Bakery Cafe offers a casual atmosphere featuring innovative, seasonal menu options ranging from hot breakfasts and signature paninis to handcrafted salads, sandwiches and mouthwatering sweets. Offering dine-in, to-go and catering service for any occasion, Corner Bakery Cafe delivers a premier bakery cafe experience in the heart of neighborhoods everywhere. Corner Bakery Cafe was acquired in 2011 by Roark Capital Group, 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 $1.0 billion. More information on Corner Bakery Cafe franchise opportunities is available at www.CornerBakeryCafe.com/Franchise.aspx.
*$2.3M AAV represents the average for the 83 company-owned cafes that have been in operation for at least 18 months, as disclosed in Item 19 of the 2013 Franchise Disclosure Document (FDD). Individual financial performance will vary. A copy of the FDD is available by contacting Franchising@CornerBakeryCafe.com.
SOURCE Corner Bakery Cafe
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