MRS FIELDS CHOMPS ON COOKIE MAN

MRS FIELDS CHOMPS ON COOKIE MAN

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.

Get our daily business news

Sign up to our free email news updates.

Please tick to verify that you are not a robot

 

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Make smarter investing decisions with an Earnings Calendar
Partner Content
With the US reporting season just around the corner, it pays to know when exactly to gi...
moomoo
Advertisement

Related Stories

Credit Suisse is an anomaly: Why Australia and New Zealand are safe from ‘bank run’ contagion

Credit Suisse is an anomaly: Why Australia and New Zealand are safe from ‘bank run’ contagion

There has been a lot of talk about the risk of financial contagion ...

Employment screening company VerifyNow acquired by US giant Accurate Background

Employment screening company VerifyNow acquired by US giant Accurate Background

One of the world’s largest employment screening companies ser...

Latitude uncovers ‘further evidence of large-scale information theft’

Latitude uncovers ‘further evidence of large-scale information theft’

The fallout from a cyber attack on personal loans and credit cards ...

After a year of turmoil, The Star completes board cleanout with Heap’s exit

After a year of turmoil, The Star completes board cleanout with Heap’s exit

A year after the launch of the Bell review unearthed serious miscon...