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NexCen Brands signs deal to grow QSR brands in Africa
September 9, 2009
Great American Cookies, MaggieMoo's, Marble Slab Creamery and Pretzelmaker, as well as two retail chains from the NexCen Brands system, will be expanding into Africa under a master franchise agreement with Teixeira Development Group, an Angolan company.
The master franchise agreement calls for the development of 58 stores across the six franchised brands in Angola, Guinea-Bissau, Sao Tome and Principe over a 10-year term. The stores will be the first NexCen franchised stores in these African countries.
"We look forward to working with Teixeira and other franchisees to expand our franchised brands' presence in Africa, and believe there is great opportunity and appetite for our brands in developing countries," said Kenneth J. Hall, CEO of NexCen Brands Inc. "The agreement with Teixeira is a prime example of a master developer taking advantage of our diverse brand portfolio to enter new markets with multiple franchised brands."
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