VENTURES AFRICA – As part of its global expansion, International Ice Cream Company, Cold Stone Creamery, is planning to hit the African market following a recent franchise agreement signed in Egypt.
The deal, which was signed by Cold Stone Creamery’s parent company, Kahala, includes a 10-year Master Franchise agreement with Squadra to bring the company’s ice cream experience to Egypt with the goal of establishing eight stores in the first four years.
The first store is expected to begin operation this month with a second tore to follow shortly after. A third location is also planned for the fourth quarter of 2012.
Squadra was established in partnership between three organizations with over 50 years experience in the fields of trade and industry in different segments including automotive, leisure, fashion and garments in general trading and retailing. Over the years, these three companies have become Egypt’s premiere fashion leader in the food and beverage sector through creativity, quality, differentiation and innovation.
Squadra CEO, Hany Tanyous, said “Cold Stone Creamery has successfully managed to preserve the warm feeling of stepping into a traditional creamery with fresh and rich aromas, while also utilizing the advances of the millennium to continue growing into a cutting-edge brand that is recognized and embraced throughout the world.”
He believes it is the perfect fit for Egyptian consumers who value high quality products and appreciate the tradition behind it.
The group (Squadra) anticipates great success and rapid growth for Cold Stone Creamery in their local market.
“We are pleased to continue to strengthen our international presence by entering an entirely new continent,” Dan Beem, Cold Stone Creamery’s International president said.
He believes that the company has chosen right by picking Squadra for the task of the company’s expansion.
“Squadra is the perfect partner for this important milestone with their great reputation, incredible knowledge of the market and a very successful track record,” Beem said.
“We have great expectations for Cold Stone Creamery to flourish within Egypt, as well as future plans to continue expanding throughout the continent of Africa.”
Cold Stone Creamery’s explosive international growth began in November 2005 when the company opened its first international store in Tokyo, Japan. Today, Cold Stone Creamery stores are operating in more than 380 international locations in 19 countries including China, South Korea, Canada, Denmark and the United Arab Emirates.
Cold Stone Creamery is headquartered in Scottsdale, Arizona.