MISSISSAUGA, ON, Sept. 7, 2017 /CNW/ – The Second Cup Ltd. (TSX: SCU) is pleased to announce that it has signed a category exclusive licensing agreement with Pinkberry Canada Inc. (PCI) and will begin rolling out the Pinkberry Frozen Yogurt program in Second Cup cafés across the country starting this month. Pinkberry was launched as a market test in four Second Cup locations earlier this summer. Test results have been very positive with Pinkberry contributing significantly to sales and profitability as well as attracting new customers.
Garry Macdonald, Second Cup’s President & CEO said, “I am very pleased to see Pinkberry driving double-digit sales growth in the test cafés and our team is excited to begin this rollout across the country. We expect this new initiative, in conjunction with other products in development, to further differentiate Second Cup, enhance our customers’ experience and build our sales momentum.”
Second Cup Franchisees have expressed strong interest in bringing Pinkberry to their cafés. Waeil Elbeah, multi-unit Franchisee and Advisory Council member said, “The Pinkberry product is outstanding and perfectly complements our current offering. It has the potential to significantly grow our sales and profitability. I can’t wait to launch Pinkberry in my cafés.”
The Pinkberry brand is the leading premium brand in the frozen yogurt category. Launched in California in 2005, Pinkberry has developed a cult-like following and is made with high-quality fresh ingredients, fresh hand-cut fruit and premium toppings. The brand is owned by the Serruya family who recently became significant shareholders in Second Cup. Aaron Serruya, President & CEO at PCI said, “This licensing agreement brings together two great brands and provides an opportunity for us to accelerate the expansion of Pinkberry in Canada allowing Canadians to experience the best in frozen yogurt.”
About Second Cup Coffee Co.™
Founded in 1975, The Second Cup Ltd. is a Canadian specialty coffee retailer operating over 290 franchised and company-owned cafes in Canada. The Company’s vision is to be the coffee brand most passionately committed to quality and innovation. For more information, please visit www.secondcup.com or find the Company on Facebook and Twitter.
Pinkberry® launched in Los Angeles, California in 2005 as the original brand that reinvented the frozen yogurt category and reignited the craze worldwide with its signature light and refreshing taste with a clean finish. Now with more than 250 stores in over 21 countries, Pinkberry® continues to delight everyone we serve with an experience made up of distinctive product, outstanding service and inspirational design.
For more information on Pinkberry® World, visit www.pinkberryworld.com or on Facebook, Twitter or Instagram @pinkberryworld.
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company. Forward-looking statements are identified by words such as “believe”, “anticipate”, “expect,” “intend”, “plan”, “will”, “may” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include statements regarding the benefits of the Pinkberry initiative. The forward-looking statements in this news release are based on certain assumptions, including that the roll out of the Pinkberry Frozen Yogurt program will build the Company’s sales momentum. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including the factors discussed under the heading “Risk Factors” in the Company’s annual information form available at www.sedar.com.
SOURCE The Second Cup Ltd.