Atlanta, GA - Roark Capital, an Atlanta-based private equity firm, announced that one of its portfolio companies, FOCUS Brands, has entered into a definitive agreement to acquire Auntie Anne's, the franchisor of the world's largest hand-rolled soft pretzel chain. Headquartered in Lancaster, Pa., Auntie Anne's has nearly 1,100 stores in 44 states and 21 countries. The transaction is expected to close later this year.
FOCUS Brands' subsidiaries are the franchisors and operators of more than 2,200 ice cream shoppes, bakeries, restaurants and cafes in the United States, the District of Columbia, Puerto Rico and 38 foreign countries under the brand names Carvel, Cinnabon, Schlotzsky's, Moe's Southwest Grill and Seattle's Best Coffee. With the addition of Auntie Anne's, FOCUS Brands will have six franchise brands generating more than $1.4 billion in annual system-wide revenues through more than 45,000 points of distribution in 47 states and 42 countries.
"This world-renowned brand has been recognized repeatedly for offering a solid and rewarding business model for both their franchisees and their guests," says Russ Umphenour, CEO of FOCUS Brands. "Auntie Anne's commitment to excellence plays perfectly into FOCUS Brands' purpose to 'make people happy.'"