Industry News | October 15, 2008

Golden Spoon to Expand in San Francisco

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Golden Spoon signed an area development agreement with Pacific Yogurt Partners to develop 30 Golden Spoon franchise locations in the greater San Francisco Bay Area. The new Golden Spoon stores will be located in Contra Costa, Alameda, Santa Clara, and San Mateo counties, with the first planned opening in First Quarter 2009.

“Golden Spoon is a company that has demonstrated rapid growth in the competitive frozen yogurt niche market for 25 years and we look forward to bringing the same high-quality product and experience to Northern California,” says David Vered, president and CEO of Pacific Yogurt Partners.

With Vered, who spent many years in a senior operational role with the California-based gourmet grocery chain Bristol Farms, Pacific Yogurt Partners is also managed by Kristi Terrell, director of human resources, and Richard Manchester, manager and financial advisor. The management team brings a diverse range of experience and expertise in marketing, merchandising, advertising and human resources and has developed local store marketing programs for nearly 50 Koo Koo Roo and Hamburger Hamlet restaurants.

Pacific Yogurt Partners selected Girard Securities Inc. in San Diego to undertake the equity syndication of the Northern California agreement.

“Having watched Golden Spoon succeed and surpass other concepts in the frozen yogurt and ice cream industry over the last two decades, we are excited to now be a part of the company’s growth in the Silicon Valley and San Francisco Bay Area,” says Manchester.

The Northern California agreement came following the company’s recent announcement for aggressive expansion plans. According to Golden Spoon Franchising President Roger Clawson, the Northern California agreement is one of several aggressive growth initiatives to spread Golden Spoon shops across the country and worldwide. Currently, there are nearly 100 Golden Spoon stores in the Western United States with locations in Northern and Southern California, Southern Nevada, Southern Utah and the greater Phoenix area.

“As a pioneer in the frozen yogurt industry, we have thrived for a quarter-century through diverse economic conditions and prior highly competitive conditions,” says Clawson. “Despite frozen yogurt shops popping up everywhere, our customers remain devoted to our products and we continue to see heavy foot traffic at our locations.”