Kahala, parent company of Cold Stone Creamery, has signed a franchise agreement to develop within Egypt, marking the ice cream chain's 19th country of operation and debut on the African continent.
The 10-year Master Franchise agreement was signed with Squadra and includes a goal of opening eight stores in the first four years.
Squadra is the collaboration of three organizations that together bring more than 50 years of experience in the automotive, leisure, fashion and retail industries.
"Cold Stone Creamery has successfully managed to preserve the warm feeling of stepping into a traditional creamery with fresh and rich aromas, while also utilizing the advances of the millennium to continue growing into a cutting-edge brand that is recognized and embraced throughout the world," said Hany Tanyous, CEO of Squadra. "It is the perfect fit for Egyptian consumers who value high-quality products and appreciate the tradition behind it. We anticipate great success and rapid growth for Cold Stone Creamery in our local market."
The first store will open in June 2012, followed by the second store shortly after. A third location is also planned for the fourth quarter of 2012.
"We are pleased to continue to strengthen our international presence by entering an entirely new continent. Squadra is the perfect partner for this important milestone with their great reputation, incredible knowledge of the market and a very successful track record," said Dan Beem, Cold Stone Creamery's president of International. "We have great expectations for Cold Stone Creamery to flourish within Egypt, as well as future plans to continue expanding throughout the continent of Africa."
Cold Stone Creamery's international growth began in November 2005, when the company opened in Tokyo. Today, Cold Stone Creamery stores are operating in more than 380 international locations.
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