CoolBrands International Inc. (TSE:COB.A) announced today that it has signed two new Master Franchise Agreements to expand its Family of Brands into North and South Korea. The first agreement, with U.S. Pacific Conference LLC of Seoul, South Korea, provides for the opening a total of 49 Swensen’s® Ice Cream outlets in South Korea. The second agreement, with Korea Fruz, Inc., also of Seoul, South Korea, provides for the opening of a total of 52 I Can’t Believe Its Yogurt®, Bresler’s® and Yogen Fruz® outlets in North and South Korea. Both new Master Franchisees anticipate opening their first outlets prior to September in time for the summer season.
“Since opening the first Swensen’s® outlet in Singapore in 1976, Swensen’s International has enjoyed 25 years of continuous viability and profitability in franchising in the Pacific Rim region, most notably in Singapore, Taiwan, Thailand and Indonesia,” said CoolBrands’ President and Co-CEO David J. Stein. “The agreements announced today build on that pattern of success, while adding scope and depth to our franchising business in East Asia, by opening a large new market and presenting more of our brands to consumers.”
CoolBrands markets Eskimo Pie® branded frozen novelties and frozen dessert products. Eskimo Pie® created the frozen novelty industry in 1921 when its founder, Christian K. Nelson, invented the chocolate-coated ice cream bar. Today, 80 years later, Eskimo Pie® remains one of the best-known and most widely distributed of all frozen novelty brands. The Company also markets a broad range of frozen novelties and frozen dessert products under the Tropicana®, Welch’s®, Weight Watchers® Smart Ones®, Betty Crocker®, Trix®, YOPLAIT®, Colombo® and Yoo Hoo® brand names pursuant to long-term licensing agreements. In addition, CoolBrands franchises and licenses frozen dessert outlets operated under a Family of Brands including Yogen Fruz®, I Can’t Believe It’s Yogurt® (ICBIY), Bresler’s® Ice Cream and Premium Frozen Yogurt, Swensen’s® Ice Cream, Golden Swirl®, Ice Cream Churn®, and Java Coast® Fine Coffees, with company-owned, franchised and non-traditional partnership locations in approximately 80 countries around the world. Eskimo Pie® Foodservice is a leading manufacturer and supplier of premium soft serve ice cream, frozen yogurt, custard and smoothies to the foodservice industry. The Company also manufactures and sells a full line of quality flavors, chocolate coatings, fudge sauces, powders for chocolate milk, egg nog bases, sherbet bases and other ingredients and printed flexible packaging products for use in private label dairy products in addition to the Company’s brands.