Industry News | January 16, 2013

Red Mango Celebrates Record Franchise Development in 2012

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Red Mango, one of America’s fastest-growing frozen yogurt and smoothies chains, enjoyed a record year for franchise development in 2012 and expanded the chain to more than 210 open stores.

Domestically, the company awarded agreements for 74 new locations and added the states of Kentucky, Maine, Mississippi, and New Mexico to the roster.
 
International growth for Red Mango also included multi-unit expansion agreements for Central America and South America, where the first location opened in Uruguay. The first Central America store is scheduled to open in early 2013.
 
“It was a fantastic year for Red Mango, both domestically and abroad,” says Miguel Foegal, president of Red Mango. “We continue to trump the economy and build lasting relationships with our franchisees, master licensees, and consumers looking for the very best.”
 
The best includes a steadily improving bottom line, which resulted in the company delivering its first year of positive earnings since its inception - a financial aspect that earned Red Mango Chief Financial Officer Richard Jensrud a CFO of the Year Award from the Dallas Business Journal.
 
Championing the brand’s award-winning healthy menu, The Compass Group of North America opened another Red Mango location, this time at the National Institutes of Health (NIH) in Bethesda, Maryland, one of the world’s foremost medical research centers.
 
Adding to existing agreements with foodservice operators Compass, HMSHost, ARAMARK, Sodexo, and The Grove, Red Mango further expanded its presence in non-traditional locations such as airports and college campuses across the United States where the brand continues to connect with loyal customers.
 
That connection with consumers extended to the social media following that Red Mango continues to embrace, earning the brand the number two, three, and four positions in quarterly rankings of the Restaurant Social Media Index (RSMI) in 2012 alongside such chains as Starbucks. The ranking, based on customer loyalty through social media channels, has underscored the public’s affinity for Red Mango and, likewise, the company’s goals for additional growth in the year ahead.
 
“We expect another record year ahead as we look to new markets for franchise development in the U.S. and focus on the strongest partnerships for international growth in additional countries,” Foegal adds. 
News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.