Corner Bakery Cafe Inks Additional Development Agreements with Existing Franchise Partners New multi-unit development agreements will bring five cafes in the Northwest, three cafes in northern Baltimore and ten cafes in New York state
DALLAS, Dec. 5, 2013 /PRNewswire/ -- Corner Bakery Cafe announced today the company has signed three additional multi-unit restaurant development agreements with existing franchise partners to introduce the signature bakery cafe to Idaho and eastern Washington state, northern Baltimore, and Westchester and Suffolk counties in New York.
The new development commitments, which will add a total of 18 new cafes, include:
- FEAST Foods, LLC of San Diego plans to introduce five restaurants in Idaho and eastern Washington over the next five years. FEAST Foods currently owns and operates two Corner Bakery Cafes in San Diego and Carlsbad, California, and in August signed a multi-unit development agreement to open nine new Corner Bakery Cafes in San Diego.
- The Rose Group of Newtown, Pa., has expanded its development commitment to include three new restaurants in northern Baltimore for a total of 21 committed cafes. The Rose Group currently owns and operates six Corner Bakery Cafes in the Philadelphia area and has two cafes under construction.
- Four M Bakery, LLC of White Plains, New York has expanded its development commitment to include ten new restaurants in Westchester and Suffolk Counties in New York for a total of 17 committed cafes. Previously, Four M Bakery signed a multi-unit development agreement to open seven new Corner Bakery Cafes in Nassau County, New York.
"We're thrilled to be signing additional development agreements with these three existing franchise partners. It's a testament that our commitment to partnering with respected franchise leaders is paying off as our partners want more of the success they are already seeing with their existing cafes," said Gregg Koffler, Vice President of Franchise Sales. "These markets are a perfect fit for Corner Bakery Cafe, 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 three new development agreements add to the more than 300 development commitments, as Corner Bakery Cafe 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 franchise partners include some of the most successful veteran restaurant professionals in the industry."
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 160 company-owned and franchised locations in 16 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 16 states and Washington, D.C. Established in 1991, Corner Bakery Cafe restaurants are owned and operated by CBC Restaurant Corp. with more than 160 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 more than $1.0 billion. More information on Corner Bakery Cafe franchise opportunities is available at www.CornerBakeryCafe.com/Franchise.aspx.
About The Rose Group
The Rose Group, headquartered in Newtown, Pa., is the 35th largest restaurant franchise company in the United States. They currently own and operate 58 Applebee's Neighborhood Grill and Bar restaurants in eastern Pennsylvania, Maryland, New Jersey and Delaware. The company is the first franchisee for Corner Bakery Cafe, operating six cafes in Eastern Pennsylvania. The Rose Group also co-owns and operates three Shannon Rose restaurants, an independent Irish pub and restaurant in North Jersey. More information on The Rose Group can be found on their website at www.therosegroup.com.
*$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