Cinnabon signs master franchise agreement to develop seven bakeries in nation of Georgia within next six years, with first location scheduled to open in Tbilisi in 2014
July 29, 2013
– Deal Highlights Key International Growth Strategy for Maker of World Famous Cinnamon Rolls
Cinnabon, Inc., the snack leader in the bakery-cafe segment, has signed a master franchise deal to develop several bakeries in Georgia, marking the brand's entry into the Eurasian country and further cementing Cinnabon as a global leader in baked goods and specialty drinks.
Under the agreement, master franchise partners, Sam Samuelyan and Stepan Panosyan of BrandCity LLC, will open seven stores in Georgia within the next six years. The partners expect to open the first location in the capital city of Tbilisi in 2014.
Although new to Georgia, the Cinnabon brand has a significant presence throughout Europe and Asia, with locations in bordering Azerbaijan, Armenia and Turkey. In nearby Russia, Cinnabon has opened 103 locations in four years, with plans for another 30 in the next year.
"The master franchise agreement in Georgia, a previously untapped market, represents the tremendous opportunity abroad for Cinnabon," said Mike Shattuck, President of FOCUS Brands International, which handles overseas expansion for Cinnabon, as well as Carvel Ice Cream, Moe's Southwest Grill, Schlotzsky's Deli and Auntie Anne's Pretzels. "We're excited to have the opportunity to work with such esteemed businessmen as Mr. Samuelyan and Mr. Panosyan and to introduce our product to the country."
Through BrandCity, master franchise partners, Samuelyan and Panosyan, of Armenia, also operate Cinnabon in Armenia, as well as a diverse portfolio of brands, including KIA Motors, Paul Bakeries, Segafredo Zanetti coffee shops and Southern Fried Chicken.
Cinnabon has more than 1,000 locations in 55 countries. By year's end, Cinnabon projects new market launches in Morocco, Tunisia, Albania, Iraq, Mongolia and Ukraine. Overseas expansion will remain a central growth initiative for the foreseeable future, says Shattuck, and Cinnabon is currently seeking franchise partners in North African countries, Korea, Taiwan, Brazil, Spain, France and Germany. FOCUS Brands International expects to open more than 260 global units of all its franchise concepts throughout 2013.
About Cinnabon, Inc.
Founded in Seattle in 1985 and now based in Atlanta, Cinnabon, Inc. is the market leader among cinnamon roll bakeries. The company serves fresh, aromatic, oven-hot cinnamon rolls, as well as a variety of other baked goods and specialty beverages. Cinnabon currently operates more than 1,000 franchised locations worldwide, primarily in high traffic venues such as shopping malls, airports, train stations, travel plazas, entertainment centers and military establishments. Cinnabon is also a multi-channel licensor, partnering with other companies to provide brand licensed products at foodservice and retail venues. Visit www.cinnabon.com for more information, follow us on Twitter @Cinnabon or become a Facebook fan at http://www.facebook.com/Cinnabon.