Focus Brands, which subsidizes Carvel Ice Cream, Cinnabon, Schlotzsky's, Moe's Southwest Grill and Seattle's Best Coffee, has signed a definitive agreement to acquire Auntie Anne's soft pretzel chain.
Focus Brands is a portfolio company of Atlanta-based equity firm Roark Capital. Auntie Anne's is Roark's 19th franchise investment, and its eighth in the restaurant industry.
Auntie Anne's, headquartered in Lancaster, Pa., adds quite a bit of business to Focus Brands' already extensive line-up, with approximately 1,100 stores in 44 states and 12 countries. The deal is expected to be complete by the end of fall.
Focus subsidiaries franchise and operate more than 2,200 ice cream units, bakeries, restaurants and cafes in the U.S. and 38 other countries. Other Roark companies include McAlister’s Deli, Wingstop, Batteries Plus, Fast Signs, Money Mailer, Pet Valu and Primrose Schools.
The acquisition of Auntie Anne's should boost Focus Brands to more than $1.4 billion in annual system-wide revenues.
“(Auntie Anne's) has been recognized repeatedly for offering a solid and rewarding business model for both their franchisees and their guests,” said Russ Umphenour, CEO of Focus Brands.
Bill Dunn, Auntie Anne's president and COO, added that Focus' mission complements the pretzel company's founding principles.
