The Coffee Bean & Tea Leaf announced the sale and franchising of its San Francisco stores, and the subsequent area development agreement for 50 additional outlets in the Bay Area. The developer, CBMSB LLC, is headed by Robert Azinian, an entrepreneur/restaurateur who is the largest franchisee in the Johnny Rockets system and has several other restaurant concepts in his portfolio. There are currently three locations of the Coffee Bean & Tea Leaf in the city of San Francisco. Azinian's group plans to commence development of new stores immediately.
"We are thrilled to work with Robert Azinian on the growth of our brand in the Bay Area," says Bob Kaufman, vice president of business development and franchises for the Coffee Bean & Tea Leaf. "The three existing stores will be a good launching pad for Azinian's group to expand, and we look forward to working together with them on adapting our concept to the San Francisco/Bay Area market."
CBMSB's Bay-Area Coffee Bean & Tea Leaf business will be operated by Jason Munyon, who joins the group with 20 years of retail experience with Borders and Tower Records.
"We are totally committed to San Francisco and the entire Bay Area, and together with the existing staff in San Francisco, we will grow the Coffee Bean & Tea Leaf concept to meet the needs of the local communities in this great market,” Munyon says.