Franchising
Fresh Dining Concepts acquires 73 Auntie Anne's locations
March 2, 2022
Fresh Dining Concepts has completed its sixth acquisition in less than 10 months. The company, a Focus Brands franchisee of Auntie Anne's, Carvel, Cinnabon and Jamba Juice, has purchased 73 Auntie Anne's locations from Double P Corporation. The move brings Fresh Dining Concepts from 73 locations to 146 in the Focus Brands family, and is its largest acquisition yet, according to a press release.
"Hats off to the Double P team for building a wonderful collection of Auntie Anne's locations. We were beyond impressed with the portfolio and see this as a clear expression of our strategic expansion plans," Kevin Bush, chief strategy officer for Fresh Dining Concepts, said in the release.
Since April of 2021, Fresh Dining Concepts, under the leadership of company CEO Luis San Miguel, has grown from 50 locations to 146. The increased footprint comes through the aforementioned six acquisitions and multiple store developments. Post acquisition, the multi-unit, multi-brand franchisee operates in 12 DMAs across 17 total states, with more than 1,100 employees.
"This is a major achievement for us. Completing the deal with Double P reinforces our aggressive growth strategy and confirms our ascension as one of the largest franchise operators," San Miguel said in the release. "We are maintaining a growth-focused mindset, and that includes 2022 and the immediate years that follow."
Acquiring Double P Corporation comes on the heels of another development agreement for Fresh Dining Concepts with Focus Brands. In late-2021, it inked a deal to develop 10 co-branded Auntie Anne's and Cinnabon locations in the five New York City boroughs over the next four years.
