News

Corner Bakery inks new deals with existing franchisees

December 5, 2013

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 LLCof 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, Calif., 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, N.Y., has expanded its development commitment to include 10 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, N.Y.

"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, VP 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."

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