Iconic Frozen Yogurt Brand Enters New Chapter of Growth with Multi-Unit Franchise Development in the Middle East
DOHA, Qatar, Dec. 17, 2024 /PRNewswire/ — TCBY, one of the nation’s original and most iconic frozen yogurt brands, announced today a new multi-unit franchise development agreement with Sterling Restaurants, marking a significant step forward in the beloved brand’s international expansion and a new chapter for TCBY in Qatar.
Pictured (L to R): Ibrahim Al-Muftah, Managing Director, Almuftah Group and Joe Lewis, President & CEO, Famous Brands International (Mrs. Fields & TCBY)
Sterling Restaurants, a subsidiary of the renowned Al Muftah Group, brings over four decades of experience managing TCBY locations in Qatar and deep ties to the region’s business landscape. Al Muftah Group, recognized by Forbes as one of the top 100 Arab Family Businesses in the Middle East, has been a cornerstone of Qatar’s economy for over 60 years. The group recently welcomed a new generation of leadership, signaling a renewed focus on strategic growth and innovation.
This expansion agreement builds upon the decades of success between TCBY and the Al Muftah Group, reflecting the mutual trust and confidence shared by both organizations. Under the agreement, Sterling Restaurants plans to open more than 10 new TCBY locations across Qatar within the next five years. While this agreement currently focuses on TCBY, there is potential to introduce its sister brand, Mrs. Fields Cookies, in the future. Initial stores are slated for high-profile areas in prominent malls, with the first opening anticipated in 2025. TCBY, under Famous Brands International, is owned by Pearl Street Equity L.L.C., a multi-billion dollar New York-based single-family office.
“Sterling Restaurants intends to strengthen TCBY’s presence and embark on this expansion to bring more locations to communities across Qatar,” said Seamus MacTreinfhir, CEO of Sterling Restaurants. “We recognize the nostalgic appeal of TCBY resonates deeply with the local community, and the growing demand for premium frozen yogurt presents an exceptional opportunity for growth. Leveraging our expertise and deep connection to the region, we’re ready to take TCBY to new heights.”
This expansion aligns seamlessly with Qatar’s National Vision 2030, which emphasizes nationwide economic diversification, business development, and enhancements to lifestyle and social progress. Sterling Restaurants’ leadership team sees TCBY as a natural fit within this framework, with plans to modernize the dining experience while promoting healthier eating habits amongst customers. They envision incorporating regionally inspired flavors into future menus, blending tradition with innovation to meet the evolving preferences of local consumers.
“This agreement is a significant milestone in TCBY’s journey of global growth,” said Joe Lewis, CEO of Famous Brands International, parent company of TCBY. “Sterling Restaurants’ legacy, strategic vision, and dedication to making TCBY a part of their community over the past few decades has been invaluable, and we are happy to commit long term to this successful relationship. The Al Muftah Group’s commitment and new leadership further reinforces our confidence in this partnership. Domestically, TCBY has achieved consistent, positive same-store sales over the past five years, and this expansion throughout Qatar demonstrates our dedication to revitalizing the brand both at home and abroad. We’re confident Sterling Restaurants will deliver remarkable success, and we look forward to seeing this partnership unfold.”
This new agreement underscores TCBY’s broader international growth strategy. The brand continues to attract franchise partners worldwide, offering a wide variety of frozen yogurt flavors and treats that cater to all tastes and dietary preferences, including dairy-free, vegan, and gluten-free options. With over 35 toppings ranging from candies and desserts to fresh fruits, nuts and sauces, customers can fully customize their frozen treats. The store also offers a selection of frozen desserts, including milkshakes, parfaits, sundaes, cakes, pies, chillers, sorbet fizz and more.
With over 360 locations worldwide, TCBY and its sister brand, Mrs. Fields Cookies, are positioned for continued growth through strategic international partnerships. The Middle East remains a priority region for expansion, with plans to introduce more locations in the coming years.
For more information about Sterling Restaurants or TCBY of Qatar, visit AlmuftahSterling.com and follow on Facebook and Instagram. Internationally, stay updated on TCBY’s latest news and promotions by visiting visit TCBY.com and following the brand on Facebook, Twitter, and Instagram. To explore franchising opportunities, visit TCBYFranchise.com.
About TCBY®: TCBY (The Country’s Best Yogurt) is one of the original and most iconic frozen yogurt retail store brands in the world, founded over 40 years ago in 1981 by Frank Hickingbotham in Little Rock, Arkansas. A former junior high school principal and insurance salesman, Frank was inspired to open the store after his wife, Georgia, discovered frozen yogurt at a Neiman Marcus in Dallas, Texas. TCBY began franchising in 1982 and quickly grew to become the world leader in frozen yogurt and the beloved iconic brand it is today. TCBY offers an extensive product line, including low-fat, fat-free, or no sugar added options. TCBY operates in 32 states and five countries and plans to continue expanding through franchising in the United States and internationally. TCBY is part of Famous Brands International, the parent company of TCBY and Mrs. Fields. For more information, visit TCBY.com or TCBYFranchise.com to learn about franchising opportunities. To stay updated on the latest news and promotions, follow TCBY on Facebook, Twitter, and Instagram.
About Famous Brands International Famous Brands International is the parent company of two category defining, iconic brands: Mrs. Fields® Cookies and TCBY® (The Country’s Best Yogurt). The company markets and distributes its products such as cookies, brownies, cookie cakes, frozen yogurt, and yogurt cakes through its Mrs. Fields and TCBY franchise stores. Serving millions of loyal customers around the world, Famous Brands maintains a presence in the U.S., Canada, Australia, Hong Kong, Morocco, Panama, Qatar, Taiwan and the Bahamas with over 360 franchised locations worldwide. The company is currently leveraging the category leading brand awareness of its iconic brands to pursue further franchise growth in both the United States and international markets. Famous Brands is headquartered in Salt Lake City, Utah.
About Pearl Street Equity L.L.C Pearl Street Equity L.L.C. (“Pearl Street“) is a multi-billion New York, NY based family office. Pearl Street and affiliates have investments in venture capital, public and private equity, commercial real estate, credit strategies, intellectual property, and technology. For more information, visit PearlStreetEquity.com.
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