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The master franchise agreement calls for the development of 40 Great American Cookies stores in Canada over a 10-year term. Four stores are expected to open in the first year of the agreement. The principals of the master developer under this agreement also are the principals of the master developer for the Company’s Marble Slab Creamery concept in Canada under an existing agreement, pursuant to which 42 Marble Slab Creamery franchised stores have been opened since 2003 with 25 under development for 2009.
“We believe this new development agreement for Great American Cookies in Canada demonstrates the broad strength of this brand and more generally our ability to expand the international reach of all our franchise brands,” says Kenneth J. Hall, CEO of NexCen Brands, Inc.
“I look forward to building on my existing relationship with NexCen to develop an international presence for Great American Cookies as we did for Marble Slab Creamery,” says Cam Inglis, signatory to the master franchise agreement.