Industry News | December 5, 2013
Corner Bakery Inks Agreements with Existing Partners
Corner Bakery Café announced the company has signed three additional multiunit restaurant development agreements with existing franchise partners to introduce the signature bakery café to Idaho and eastern Washington state, northern Baltimore, and Westchester and Suffolk counties in New York.
The new development commitments will add a total of 18 new cafes.
Feast Foods LLC of San Diego plans to introduce five restaurants in Idaho and eastern Washington over the next five years. Feast Foods owns and operates two Corner Bakery Café locations in San Diego and Carlsbad, California, and in August, signed a multiunit development agreement to open nine new Corner Bakery Cafés in San Diego.
The Rose Group of Newtown, Pennsylvania, expanded its development commitment to include three new restaurants in northern Baltimore for a total of 21 committed cafés. The Rose Group owns and operates six Corner Bakery Cafés in the Philadelphia area and has two cafes under construction.
Four M Bakery LLC of White Plains, New York, expanded its development commitment to include ten new restaurants in Westchester and Suffolk Counties in New York, for a total of 17 committed cafes. Previously, Four M Bakery signed a multiunit development agreement to open seven new Corner Bakery Cafés in Nassau County, New York.
"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 cafés,” says Gregg Koffler, vice president 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 Café has an advantage with $2.3 million AAVs and outstanding unit-level economics,” Koffler says. “Adding to that advantage, our franchise partners include some of the most successful veteran restaurant professionals in the industry.”
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