NexCen Brands, Inc. – parent company to The Athlete's Foot – has entered into definitive agreements to acquire MaggieMoo's International, LLC and the assets of Marble Slab Creamery, Inc. for a total combined initial purchase price of $37.1 million, plus a potential earn-out of up to $2 million on the MaggieMoo's acquisition.
These two transactions are expected to be completed before the end of the first quarter and will mark the first acquisitions for NexCen in the quick service restaurant (QSR) sector, and establish the QSR operating platform for NexCen's third operating vertical, in addition to its consumer branded products and retail franchise based businesses.
Robert W. D'Loren, NexCen's President and Chief Executive Officer, 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 United States through our international franchise network currently operating in over 40 countries worldwide,” Mr. D'Loren closed.
