Fresh from a recapitalization by new owners, the TCBY and Mrs. Fields brands are heading into a year of innovative products, new franchising opportunities and building their presence in grocery stores.
Tim Casey, president and chief executive of Mrs. Fields Famous Brands, franchisor of the 580-unit TCBY frozen yogurt and 337-unit Mrs. Fields cookies chains, spoke with Nation’s Restaurant News about new growth opportunities for the Salt Lake City-based company, which last month engaged in a recapitalization that brought in private-equity firm Z Capital Partners as a majority owner, along with existing stakeholder The Carlyle Group.
The company began working on re-energizing the brands last year, Casey said. TCBY debuted a new self-serve prototype as well as an updated design, logo and brand identity.
The nearly fully franchised chain also launched a more healthful Super Fro-Yo product. An area developer in Texas has committed to opening 200 locations, aiming for second-tier cities, beginning with Tyler. The brand has additional agreements with other developers to expand in Colorado and the Carolinas.
And there’s more to come, according to the company. Here’s what Casey said about the year ahead for TCBY and Mrs. Fields.
What will the new financing do for the two brands?
It really allows us to reinvest in innovation and product innovation and think about how we can evolve this space going forward.
You have said this will be a “year of flavor and delight” for TCBY. What did you mean by that?
TCBY had a great year last year. We started working with more franchisees than we have in recent years. The rebranding and self-serve concept have been appealing and compelling for franchisees and consumers.
I think everyone knows TCBY was really founded on taste, flavor and innovation. We are now going to be putting an incredible amount of focus on innovation and flavors.
