11/07/2018 | Press release | Distributed by Public on 11/06/2018 18:35
Yoma Strategic to Bring Auntie Anne's™
Pretzel Franchise to Myanmar
First store scheduled to open in Yangon with ambitious expansion planned during the next five years
Targeting Myanmar's growing middle class, Auntie Anne's™ will sit alongside KFC and Little Sheep Hotpot in Yoma F&B's expanding franchise portfolio
Yangon, 7 November 2018 - Yoma Strategic Holdings Ltd. ("Yoma Strategic") and Auntie Anne's™ parent company FOCUS Brands Inc., ("FOCUS Brands") today announced the signing of a franchise agreement to bring Auntie Anne's™, the world's largest hand-rolled soft pretzel franchise1, to Myanmar. Myanmar's first Auntie Anne's™ outlet is scheduled to open in Yangon in the coming months with more ambitious expansion planned over the next five years.
Auntie Anne's™ is an iconic global brand which is known for producing handmade baked goods from scratch in open in-store kitchens. Originating in Pennsylvania, USA, the brand recently celebrated 30 years of operations and currently has more than 1,800 outlets in 30 countries, including more than 600 locations outside of the USA2. With its commitment to freshly baked snacks which can be eaten anytime, anywhere, Auntie Anne's™ has established a strong presence in Asia, gaining popularity in markets such as Thailand, Philippines, Japan, Cambodia, Indonesia, Malaysia, Singapore, China and South Korea.
Mr. Melvyn Pun, CEO, Yoma Strategic, said, "We are seeing considerable growth in the market for freshly baked goods. While many street vendors do offer traditional Myanmar alternatives, the addition of an iconic international brand will only enrich the local foodscape. It is also a big opportunity for a global brand to come in and offer consumers an exciting new twist on the current offerings in this sector."
Selected after an in-depth study on the dining preferences of consumers in Myanmar, Auntie Anne's™ joins KFC and Little Sheep Hotpot in Yoma F&B's expanding franchise portfolio. The entry of Auntie Anne's™ also marks Yoma F&B's first step into the freshly baked goods market, a move in line with the Group's goal of creating a nationwide, multi-sector F&B platform. Yoma F&B is targeting the shifting consumption patterns and the rising discretionary disposable income of Myanmar's expanding middle class, a group forecasted to reach 10 million by 20223.
"We have put significant effort into researching suitable F&B concepts and identified Auntie Anne's™ as an excellent complement to our existing brand portfolio, which currently consists of 26 KFC stores and Little Sheep Hotpot, which will be launched soon. We will continue to accelerate expansion in the F&B sector, and aim to have six international and local brands offering quality and value across 125 outlets by FY2023," added Mr. Pun.
Mr. Ken Chen, SVP & Managing Director for FOCUS Brands in Asia Pacific said, "We are very excited to continue Auntie Anne's™ footprint expansion in Asia and bring freshly baked, hand-rolled pretzels to Myanmar."
2 Focus Brand's Internal Data
Myanmar consumers can look forward to classic Auntie Anne's™ favourites such as the Original Pretzel, the Sweet Almond Pretzel, the Pretzel Dog and freshly squeezed lemonade. All Auntie Anne's™ pretzels will be hand twisted and freshly baked in store.
About Auntie Anne's™
Auntie Anne's™ was founded in 1988 by "Auntie" Anne Beiler in Pennsylvania. Since that time, Auntie Anne's™ has been bringing unexpected freshness to the world. Through authentic flavours and innovation that takes pretzels-and snacks-to a whole new level. Today Auntie Anne's™ is the world's largest pretzel chain with more than 1,800 locations located in 48 US states and almost 30 countries. Our freshly baked pretzels are served in a variety of core flavours including Original, Cinnamon Sugar, Almond and Pepperoni. Auntie Anne's™ also serves Pretzel Nuggets, Pretzel Dogs, Mini Dogs and its signature lemonade. With a variety of snack and meal options for people on-the-go, Auntie Anne's™ is a popular bakery chain that can be found in shopping malls, airports, train stations, travel plazas and entertainment complexes. The recipe the founders created is still the same recipe used today. Auntie Anne's™ has grown to become an iconic brand known for its fresh, hot, hand-rolled soft pretzels and is consistently the highest ranked pretzel chain by Entrepreneur's Franchise 500.
About FOCUS Brands Inc.
Atlanta-based FOCUS Brands Inc., through its affiliate brands, is the franchisor and operator of more than 6,000 ice cream shoppes, bakeries, restaurants and cafes in the United States, the District of Columbia, Puerto Rico and over 50 foreign countries under the brand names Carvel®, Cinnabon®, Auntie Anne's®, Jamba Juice®, Schlotzsky's®, Moe's Southwest Grill®, McAlister's Deli®, as well as Seattle's Best Coffee® on certain military bases and in certain international markets. Please visitwww.focusbrands.comto learn more.
About Yoma Strategic Holdings Ltd. (www.yomastrategic.com)
Listed on the Main Board of the Singapore Securities Exchange Trading Limited (SGX-ST), Yoma Strategic Holdings Ltd. is a leading business corporation with a diversified portfolio of businesses in Real Estate, Consumer, Automotive & Heavy Equipment, Financial Services and Investments in Myanmar. Together with its Yoma Group partners, Yoma Strategic is taking a conglomerate approach to build a diversified portfolio of businesses in Myanmar. The Company was ranked in the top 5% of the Governance and Transparency Index 2018, ranked 26th out of top 100 largest Singapore companies in the ASEAN Corporate Governance Scorecard 2017 and won the Best Managed Board (Gold) Award at the Singapore Corporate Awards in 2016.
For enquiries, please contact:
Ms. Jane Kwa, Tel: (65) 9759 2602 or (95) 09 79311 3587 Email: [email protected]
Yoma Group Media contact:
Mr. Joshua Hughes, Tel: (95) 9517 9646 Email: [email protected]
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