News

Corner Bakery Cafe signs 30-unit deal

May 8, 2012

Corner Bakery Cafe has signed an agreement with Yum & Chill Restaurant Group to bring 30 new locations to Florida and New Jersey over the next five to seven years.

Plans call for 20 cafes in New Jersey and 10 cafes in the Florida region of Tampa/St. Petersburg. The new restaurants will help boost the local economy in those states by adding more than 1,200 jobs locally. Growth will be focused in Northern and Central New Jersey, as well as Pinellas and Hillsborough counties in Florida.

Based in Warren, N.J., Yum & Chill Restaurant Group is a team of highly experienced restaurant developers with a diverse portfolio of brands. Partner Nirav Mehta says Corner Bakery Cafe will be a welcome addition to both areas.

"We are excited that Yum & Chill and Corner Bakery Cafe are teaming up to help grow the brand in these two states," said Mehta. "With the young, professional and active culture in these particular markets, we feel that Corner Bakery Cafe caters to the needs of tomorrow while addressing today's healthy lifestyles."

Since being acquired by Roark Capital Group in 2011, Corner Bakery Cafe has accelerated its national expansion plans through franchising, with plans to double the brand's presence in the next three years. The bakery cafe brand currently boasts a unit-level EBITDA over 18 percent and an average unit volume exceeding $2.2 million.

Read more about restaurant franchising and growth.