Z Capital: now Sole Shareholder of Famous Brands

Broomfield / CO. (fb) Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, announced that Z Capital Partners, the Company´s largest shareholder, has acquired the remaining minority ownership stake of Famous Brands from The Carlyle Group. As a result of this transaction, Z Capital is now the sole owner of Famous Brands. Concurrent with this transaction, the Company also announced several changes to its Board of Directors. Specifically, James J. Zenni, President and Chief Executive Officer of Z Capital, has been named Chairman of the Board and Homi Patel, Operating Partner at Z Capital and former Chairman, President and CEO of Hartmarx Corporation, has been appointed to the Famous Brands Board. The Company is currently in the process of evaluating candidates who will support the value and direction of the organization to fill the vacant seats. Neal Courtney was named Chief Executive Officer of Famous Brands as well as appointed to the Famous Brands Board of Directors. «We are thrilled to announce the acquisition of Carlyle´s minority stake of Famous Brands», said Zenni. «The Company has made great strides over the past several years in developing a strong foundation for growth and success. We are committed to aggressively supporting the business globally to build on the momentum it has gained and help it become more successful in the future. We are confident that, with Neal Courtney and his experience leading our talented management team, Famous Brands will continue to grow these two iconic brands and realize tremendous expansion across all of its global channels».