NexCen Brands Inc. said Thursday it is selling all of its franchise businesses, including the Great American Cookie, MaggieMoo's, Marble Slab Creamery, Pretzelmaker and Pretzel Time brands, to an affiliate of private-equity firm Levine Leichtman Capital Partners for $112.5 million. NexCen, which began exploring strategic alternatives in February amid falling sales and a cash shortfall, said part of the proceeds of the buyout would be paid to its lender, BTMU Capital Corp., to satisfy the ...
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Contact: Desiree Torres Desiree.Torres@penton.com