Red Mango Awards Master License Agreement to Sodexo, Inc.
DALLAS --(BUSINESS WIRE)-- Red Mango, one of the most popular and fastest-growing retailers of authentic nonfat frozen yogurt, has awarded a master license agreement to Sodexo, Inc., a comprehensive service solutions with a core business of integrated food and facilities management that will open an undisclosed number of Red Mango stores in Sodexo-managed locations over the next 10 years.
"This agreement gives Red Mango great potential for additional growth, partnering our brand with one of the national leaders in food service and catering to our target demographics in superior venues," said Dan Kim, president and founder of Red Mango. "Naming Sodexo a Master Licensee welcomes opportunities to deliver Red Mango to a wider national audience and a healthier way of life."
Sodexo was recently ranked third in the world among outsourcing services companies. The organization specializes in integrated facilities management services across a variety of sectors including college campuses, government buildings, large corporations, hospitals and more.
"We look forward to bringing a healthy and delicious treat option to our client locations. Red Mango is a strategic addition to our portfolio that adds the value of a proven menu, superior branding and strong franchise system to offer the very best," said John Nappier, vice president of business development of Sodexo's Retail Brand Group.
As a Master Licensee, Sodexo has been awarded non-exclusive rights to open stores under the Red Mango brand subject to Red Mango's approval. The 10-year agreement also includes options for renewal.
About Sodexo, Inc.:
Sodexo, Inc. is a leading integrated facilities management services company in the U.S., Canada, and Mexico, with $7.7 billion (USD) in annual revenue and 120,000 employees. Sodexo serves more than ten million customers daily in corporations, health care, long term care and retirement centers, schools, college campuses, government, and remote sites. Sodexo, Inc., headquartered in Gaithersburg, Md., is a member of Sodexo Group, and funds all administrative costs for the Sodexo Foundation, an independent charitable organization that, since its founding in 1999, has made more than $11 million in grants to fight hunger in America.
About Red Mango:
Founded in 2002 in South Korea, Red Mango opened its first U.S. store in July 2007 in Los Angeles and has since celebrated more than 50 store openings across California, New York, Washington, Illinois, Hawaii, New Jersey, Nevada, Indiana and Utah. Red Mango serves authentic frozen yogurt that is all-natural, nonfat, certified gluten free and packed with probiotic live and active cultures. Red Mango's frozen yogurt has been certified by the National Yogurt Association's Live and Active Culture Seal for meeting the required criteria for healthy frozen yogurt. Red Mango's investors include CIC Advantage Holdings LLC, a holding company formed by CIC Partners and leading retail and restaurant operators to invest in and add value to multi unit retail companies.