Nexcen To Acquire 2 Ice Cream Franchise Companies

NexCen Brands is to acquire MaggieMoo's International and the assets of Marble Slab Creamery, two brands in the hand-mixed premium ice cream category, for a combined purchase price of $37 million.

(Friday, February 16, 2007) - NexCen, a brand management company, is acquiring the companies for a combined initial purchase price of $37 million, plus a potential earn-out of up to $2 million upon the MaggiMoo's acquisition. The company expects these two transactions to be completed before the end of the first quarter and will mark the first acquisitions for NexCen in the quick service restaurant sector.


Robert D'Loren, NexCen's president and CEO, noted: "These acquisitions will provide NexCen with two well positioned brands in the hand-mixed premium ice cream category. With 520 existing stores and 225 stores in the pipeline on a combined basis, these two brands will place us solidly as the number one player in quality and the number two player in the number of franchise units in the hand-mixed premium ice cream sector.

"There is a tremendous growth opportunity with these brands through organic growth and licensing opportunities. We intend to grow these brands outside of the US through our international franchise network currently operating in over 40 countries worldwide," Mr D'Loren concluded.

The initial purchase price for MaggieMoo's is $16.1 million. The Marble Slab acquisition is costing NexCen $16 million in cash, and seller notes in aggregate principal amount of $5 million that earn interest at 6% per annum and are payable one year from closing.

For the year ended December 31, 2006, NexCen said aggregate revenues for Marble Slab and MaggieMoo's were approximately $10 million.

View all MaggieMoo's Ice Cream & Treatery Press Releases

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