GoTo Foods CEO Jim Holthouser announced the name change at the company’s biennial brand franchisee conference.
After Record-Breaking Global Franchise Development Year, Platform Company Marks Next Era of Brand Evolution
Atlanta, GA (RestaurantNews.com) Focus Brands, the parent company of the Auntie Anne’s®, Carvel®, Cinnabon®, Jamba®, McAlister’s Deli®, Moe’s Southwest Grill®, and Schlotzsky’s® brands, signals new era of growth and opportunity with official name change to GoTo Foods.
This news comes on the heels of a record development year globally with more than 1,150 signed franchise agreements and 398 store openings, alongside the addition of 4.6 million new loyalty members worldwide across its portfolio of brands. These achievements have set the stage for considerable development and strong performance in fiscal year 2024.
The rebranding, announced at the company’s biennial brand franchisee conference by Chief Executive Officer Jim Holthouser, signals the company’s continued transformation into a platform company as it embraces its brands’ reputations as go-to choices in the restaurant industry – for franchisees and customers.
“To unlock future opportunities with brand franchisees, and ultimately consumers, it has become more important than ever to have a name that conveys and powers the strength, affection, and craveability of the seven iconic brands in our portfolio today,” said Holthouser. “GoTo Foods represents a no-limits vision that is firmly rooted in reality as we embrace the power of our platform company and look to a future with endless possibilities.”
The strategic decision to modernize the holding company has activated immense change. Since assuming the role of CEO in 2020, Holthouser and the company’s executive team have been on a mission to reimagine the way GoTo Foods operated. The team has prioritized the need to simplify, streamline, and strengthen the company by breaking down silos and building enhanced, centralized systems and capabilities – evolving into a platform company that leverages the power of its portfolio.
Ongoing and recent strategic enhancements to harmonize across brands have led to impressive performance marks – in 2023, the company reported double-digit year-over-year growth in adjusted EBITDA and loyalty acquisition. Streamlined in-house supply chain resulted in the rationalization of hundreds of SKUs across brands, paid media spend more than doubled the previous year, and consumer packaged goods licensing continued to grow – boasting the rollout of 10 new launches, driving revenue and strengthening brand awareness beyond brick-and-mortar locations. The company’s continued focus on the employee experience earned GoTo Foods its first Great Place To Work® certification, a prestigious “employer-of-choice” recognition based entirely on what employees report about their workplace experience.
Since 2020, the company’s growth rate has accelerated, with system-wide sales of more than $4.2 billion and estimated retail sales from our licensing partners of $1.5 billion for a total of $5.7 billion in retail sales for our brand portfolio.
Alongside this strong performance is a prioritization on franchise development across brands. 2023 set new growth records with a focus on multi-unit growth, co-branding, and nontraditional development – boasting over 2,000 nontraditional units across the country – as well as strong international growth – expanding beyond its 2,000+ locations across more than 60 countries. These areas of opportunity will continue to guide the franchise development strategy in 2024.
“We’re a company comprised of powerful, well-loved brands,” added Holthouser. “We’ve made strategic investments and set the foundation for a bright future ahead. Timing was right to unveil a new name that communicates a dynamic, innovative organization with positive momentum while bringing together our company and our brands and inspiring those we serve.”
The GoTo Foods portfolio of brands offers compelling opportunities for franchisees looking to grow their business. Visit GoToFoods.com to learn more about how you can join one of our seven amazing brands.
About GoTo Foods
Atlanta-based GoTo Foods (formerly known as Focus Brands) is a leading developer of global multi-channel foodservice brands. As of December 31, 2023, GoTo Foods, through its affiliate brands, is the franchisor and operator of more than 6,700 restaurants, cafes, ice cream shoppes, and bakeries in all 50 states and over 60 countries and territories under the Auntie Anne’s®, Carvel®, Cinnabon®, Jamba®, Moe’s Southwest Grill®, McAlister’s Deli®, and Schlotzsky’s® brand names, as well as the Seattle’s Best Coffee® brand on certain military bases and in certain international markets. GoTo Foods is proud to be Certified™ by Great Place To Work®, the most definitive “employer-of-choice” recognition and the only recognition based entirely on what employees report about their workplace experience. Please visit GoToFoods.com to learn more.
Media Contact:
Abby Leary, GoTo Foods
[email protected]
Source : RestaurantNews