Frozen yogurt brand TCBY has inked a multi-unit franchise development agreement with Sterling Restaurants to bring more units to Qatar, according to a press release.
Sterling Restaurants, a subsidiary of the Al Muftah Group, has more than 40 years of experience managing TCBY locations in Qatar.
Under the agreement, Sterling Restaurants plans to open more than 10 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.
“Sterling Restaurants intends to strengthen TCBY’s presence and embark on this expansion to bring more locations to communities across Qatar,” Seamus MacTreinfhir, CEO of Sterling Restaurants, said in the press release. “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.”
TCBY, under Famous Brands International, is owned by Pearl Street Equity LLC., a multi-billion dollar New York-based single-family office.
“This agreement is a significant milestone in TCBY’s journey of global growth,” Joe Lewis, CEO of Famous Brands International, parent company of TCBY, said in the press release. “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.”
TCBY was founded more than 40 years ago. The brand operates in 32 states and five countries.
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