NATIONAL franchisor Cookie Corporation Pty Ltd today acquired the Gold Coast’s Cookie Man brand for an undisclosed figure, saving the Allied Brands subsidiary from liquidation.
Cookie Corporation is the Australian master franchisee of the Mrs. Fields and will now operate Cookie Man under a separate, newly formed subsidiary.
The combined companies will operate 70 locations across Australia, including 27 Mrs. Fields locations, 30 Cookie Man stores and licensed Cookie Man operations in 13 David Jones and Baskin and Robbins stores.
The Australian Cookie Man franchise was placed into liquidation on September 24 following a tumultuous 12 months for the brandchisor Allied Brands that saw the company enter voluntary administration in late October.
The sale of Cookie Man comes after Allied Brands, the company that once ran a fleet of Audis, sold its best performing franchise, Baskin Robbins to Dunkin Brands.
Cookie Corporation managing director Andrew Benefield, has appointed former Cookie Man director Peter Elligett as general manager and says the company is ‘delighted to be able to run these great two brands alongside each other’.
“Both Cookie Man and Mrs. Fields have been present in the market for many years, and have quite different positioning and customer followings,” says Benefield.
“Owning both brands will enable us to choose the most appropriate brand for any particular area to maximise customer satisfaction and franchisee sales.
“This is good news for Cookie Man franchisees. After a period of insecurity during the liquidation we look forward to being able to offer the Cookie Man franchisees, a bright and secure future.”
Mrs. Fields cookie dough will continue to be imported from the United States while Cookie Man products will continue being manufactured in Sydney.
Allied Brands shares (ABQ) have slumped to 1.7 cents.
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