Salt Lake City / UT. (bw) Mrs. Fields´ Famous Brands, a franchisor of Mrs. Fields and TCBY, announces the completion of an exchange offer and refinancing, signed and recorded in mid-December. In addition to improving its capital structure and providing access to additional funding, the Company expects this transaction will accelerate its profitable growth strategy.
«As we head into 2012, our focus is clear: exceed the expectations of our loyal customers through product innovation and great brand experiences; deliver on franchise support across Mrs. Fields and TCBY; and, grow our consumer and franchise bases, domestically and internationally», explains Tim Casey, President and CEO, Mrs. Fields Famous Brands. «We have tremendous financial partners in Z Capital Partners and The Carlyle Group and two long-standing brands that have the potential to shape their respective segments, domestically and internationally».
Fields Famous Brands is a well-established franchisor in the premium snack food industry, featuring Mrs. Fields and TCBY as its core brands. Through its franchisees´ retail stores, it is one of the largest retailers of freshly baked, on-premises specialty cookies and brownies in the world and the largest retailer of soft-serve frozen yoghurt with live active cultures. Its franchise systems operate through a network of more than 950 franchised and licensed locations throughout the United States and in 23 foreign countries. In addition, it operates an internet and catalogue gifting business, a branded retail business and has entered into licensing arrangements that leverage awareness of its core brands among its retail customer base.
