New World Coffee-Manhattan Bagel, Inc. (Nasdaq: NWCI) yesterday announced that it has entered into a licensing agreement with leading food facilities manager Sodexho to open licensed Einstein Bros kiosks on college campuses and other Sodexho accounts across the country.
The campus shop rollout started last week with locations at Marquette University in Milwaukee, Jacksonville (FL) University, and Regis University in Denver. These are scheduled to be followed by openings this fall at the University of Tampa and Carthage College in Kenosha, WI. Sodexho will initially roll out the Einstein Bros modular store concept within its Campus Services Division, while also exploring applications within its other divisions.
Under the agreement, the Campus Services Division is introducing the branded kiosks in college and university food courts. The “fast casual” sandwich shops will feature deli sandwiches, soups and green salads, along with Einstein’s signature bagels, “schmears,” fresh baked sweets and coffee.
“The addition of Sodexho as a licensing partner will enable us to extend the reach of our Einstein Bros ‘fast casual’ offering to an important demographic audience-college students,” said Anthony Wedo, New World CEO. “We believe that the Einstein Bros. brand loyalty established in a campus setting will be maintained as these young men and women move on through professional careers. Sodexho has a well-earned reputation as a high-quality player in food facilities management, and our brand fits in well with their program. Their selection of Einstein Bros underscores the brand’s position as a leader in the ‘fast-casual’ sandwich segment.”
“We are pleased to enter into this partnership with Einstein,” commented Steven Brush, director of national brands for Sodexho. “It is a strategic relationship that not only gives our customers what they want, but it also helps us expand our national brand portfolio to include quality vendors in line with the expectations of the customers in our Customer’ization and LifeSTYLING clusters.”
Eatontown, NJ-based New World is a leading company in the ‘fast casual’ sandwich industry. The Company operates stores primarily under the Einstein Bros and Noah’s New York brands and primarily franchises stores under the Manhattan Bagel and Chesapeake Bagel Bakery brands. As of July 3, 2001 the Company’s retail system consisted of 499 company-owned stores and 303 franchised and licensed stores. The Company also operates four dough production facilities and one coffee roasting plant.
Sodexho, the wholly owned North American subsidiary of Sodexho Alliance, is the leading provider of food and facilities management in the U.S. and Canada, with $4.7 billion in annual sales. In addition to Einstein Bros., the company’s facilities feature such national brands as Starbucks Coffee, Chick- fil-A and Pizza Hut. The company also offers a variety of innovative outsourcing solutions, including food service, housekeeping, grounds keeping, plant operations and maintenance, asset and materials management, and laundry services to corporations, health care facilities, schools, universities and colleges, and remote sites. Headquartered in Gaithersburg, MD, the company has 111,000 employees at 5,000 locations across the U.S. and Canada.
Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “forecast,” “estimate,” “project,” “intend,” “expect,” “should,” “would” and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the Company’s SEC filings.