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Cold Stone Creamery has sold its interest as the Master Franchisee in Japan to HotLand Corp. to further develop the concept within the country.
According to a news release, this move brings development opportunities for the brand to secure and open more locations than had been scheduled originally. Japanese-based HotLand Corp. has more than two decides of experience in the food and beverage industry, with 12 restaurant concepts in its portfolio.
Cold Stone Creamery operates more than 1,500 locations in 20 countries.
"We are thrilled to be able to take this world-class brand to more people across Japan," HotLand founder and president Morio Sase said in the release. "Cold Stone Creamery offers the best in product quality and an amazing in-store experience that we already know the Japanese people have embraced over the last eight years."
HotLand Corp. also works to bring co-branding opportunities to its umbrella of concepts, and will do so with Cold Stone as well.
"The Japanese people have shown such great support of our brand since we entered the country in 2005 and with the leverage and strength HotLand Corp. offers, the deal exceeds all of our expectations," Cold Stone CEO Michael Serruya said in the release.
Currently there are 34 Cold Stone Creamery stores operating in Japan. Under the new agreement with HotLand Corp., the goal is to have 100 stores opened throughout the country by the end of 2017.
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