NexCen Brands Announces Development Agreement to Further Expand Its Franchised Brands in the Middle East
Marble Slab Creamery Franchised Stores to Open in Egypt
Great American Cookies Stores to Open in Saudi Arabia and Kuwait
NEW YORK--(BUSINESS WIRE)--NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) today announced that the Company has signed an agreement with existing master developer, DRH Group Inc. BVI, for the development of four Marble Slab Creamery stores in Egypt, a new market for NexCen's franchised brands, over a five-year term. The agreement also calls for the development of 10 Great American Cookies stores in Saudi Arabia and three Great American Cookies stores in Kuwait over a 10-year term. Under separate franchise agreements, DRH Group, Inc. BVI currently operates Marble Slab Creamery stores in the United Arab Emirates, Bahrain and Kuwait and a Great American Cookies store in Bahrain.
Kenneth J. Hall, Chief Executive Officer of NexCen Brands, Inc., stated, "We are thrilled to announce this commitment by a proven developer to open Marble Slab Creamery in Egypt, our first franchised brand in that country, and open additional Great American Cookies franchised stores in the Middle East. We continue to make progress in our strategic plan for franchise growth in international markets."
Chris Dull, President of NexCen Franchise Management, Inc., the franchising subsidiary of NexCen Brands, stated, "DRH Group Inc., BVI has been a valued partner for the last five years and has contributed to the growing international presence of our franchised brands in the Middle East. We look forward to building on our partnership with them and our other franchisees and developers to offer our great products to consumers around the world."
About NexCen Brands
NexCen Brands, Inc. is a strategic brand management company with a focus on franchising. It owns a portfolio of franchise brands that includes two retail franchise concepts: TAF® and Shoebox New York®, as well as five quick service restaurant (QSR) franchise concepts: Great American Cookies®, MaggieMoo's®, Marble Slab Creamery®, Pretzelmaker® and Pretzel Time®. The brands are managed by NexCen Franchise Management, Inc., a subsidiary of NexCen Brands.
About Marble Slab Creamery
Marble Slab Creamery®, a leading purveyor of super-premium hand-mixed ice cream and the innovator of the frozen slab technique, was founded in 1983. Every batch of Marble Slab Creamery ice cream is made on location using ingredients from around the world and fresh dairy from local farms. Marble Slab Creamery's famous mix-ins include fresh fruits, fine nuts, candies and cookies that can be blended into all ice cream flavors. Today, Marble Slab Creamery has an international presence with locations in Canada, United Kingdom, Lebanon, Bahrain, Kuwait, Singapore and the United Arab Emirates.
About Great American Cookies
Great American Cookies was founded in Atlanta, Georgia in 1977 on the strength of an old family chocolate chip cookie recipe. For over 30 years, Great American Cookies has maintained the heritage and integrity of its products by producing original cookie dough exclusively from its plant in Atlanta. Made famous by its signature Cookie Cakes, trademark flavors and menu of gourmet products baked fresh in store.
Forward-Looking Statement Disclosure
This press release contains "forward−looking statements," as such term is used in the Securities Exchange Act of 1934, as amended. Such forward−looking statements include those regarding expected cost savings, expectations for the future performance of our brands or expectations regarding the impact of recent developments on our business. When used herein, the words "anticipate," "believe," "estimate," "intend," "may," "will," "expect" and similar expressions as they relate to the Company or its management are intended to identify such forward−looking statements. Forward−looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties. They are not guarantees of future performance or results. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward−looking statements. Factors that could cause or contribute to such differences include: (1) international development agreements may not result in the actual opening of the stores provided for under those agreements, which could negatively impact anticipated franchise fees, store opening fees and monthly royalty payments over the life of the agreements; (2) economic conditions may deteriorate in international and domestic markets, which could negatively impact the sale or operations of new and existing franchise stores; (3) we depend on the success of our franchisees to develop and grow our franchise systems both domestically and internationally; (4) we and/or our franchisees may not be successful in operating or expanding our brands or integrating them into an efficient overall business strategy, (5) our marketing, licensing and franchising concepts and programs may not result in increased revenues, expansion of our franchise network or increased value for our trademarks and franchised brands, (6) other factors discussed in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward−looking statements, whether as a result of new information, future events or otherwise.
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