Tropicana(R) Smoothies franchise stores
MARKHAM, ON, July 9 /PRNewswire-FirstCall/ - CoolBrands International
Inc. (TSX: COB.A) today announced that it has concluded a master license
agreement with Tropicana Products, Inc. of Bradenton, Florida for the
franchising of retail outlets using the Tropicana(R) brand name. Pursuant to
the master license agreement, CoolBrands will offer franchises for retail
outlets branded as "Tropicana(R) Smoothies, Juices and More" in the United
States and Canada. The Tropicana(R) Smoothies, Juices and More franchise
features a full menu selection of refreshing fruit juice based smoothies, made
by hand by blending fresh fruit and juice with crushed Ice and/or frozen
yogurt or fruit sorbet. The master license agreement follows the successful
completion of an ongoing test market arrangement during which prototype
Tropicana(R) Smoothies, Juices and More outlets were opened at the Mall of
America in Minneapolis, MN, the Fashion Show Mall and the New York, New York
Casino, both in Las Vegas, NV and other locations across the U.S.
"Consumers love smoothies because they combine refreshing fruit flavor
with good nutrition, and Tropicana(R) is the perfect brand to communicate
these benefits," said CoolBrands' President and Co-CEO David J. Stein. "We are
very excited to add the Tropicana(R) brand to our franchising portfolio."
"Tropicana is pleased to expand our Smoothie Retail Shop Licensing
relationship with CoolBrands" commented Frank Hood, Tropicana Licensing
Manager. "CoolBrands has the expertise and quality commitment required to
bring the Tropicana Brand name into this fast-growing venue. This
differentiated product and package will complement our larger Smoothie
strategy, which includes a packaged bottle for on-the-go consumption."
CoolBrands franchises and licenses frozen dessert outlets operated under
a Family of Brands including Yogen Fruz(R), I Can't Believe It's Yogurt(R),
Bresler's(R), Swensen's(R), Golden Swirl(R), Ice Cream Churn(R), and Java
Coast(R) Fine Coffees, with company-owned, franchised and non-traditional
partnership locations in approximately 80 countries around the world. In
addition, CoolBrands owns and markets the Eskimo Pie(R), Chipwich(R) and
Fruit-A-Freeze(R) brands of frozen novelties and frozen dessert products, and
also markets a broad range of frozen novelties and frozen dessert products
under the Tropicana(R), Weight Watchers(R), Smart Ones(R), Welch's(R), Trix(R)
and Yoplait(R) brands pursuant to long-term licensing agreements. Coolbrands'
Foodservice Division is a leading manufacturer and supplier of premium soft
serve ice cream, frozen yogurt, custard and smoothies to the foodservice
industry. The Company also manufactures and sells a full line of quality
flavors, chocolate coatings, fudge sauces, powders for chocolate milk, egg nog
bases and other ingredients and flexible packaging products for use in private
label dairy products in addition to the Company's brands.
Tropicana Products, Inc., a division of PepsiCo, Inc., is the world's
leading producer and marketer of branded fruit juices. Based in Bradenton,
Florida, Tropicana markets its products in the U.S. under a number of brand
names, including: Tropicana Pure Premium Original, Grovestand and HomeStyle
juices; Tropicana Pure Premium Calcium & Extra Vitamin C, and Double Vitamin C
with Vitamin E nutritionally enhanced juices; Dole juices and juice blends;
Tropicana Season's Best and Pure Tropics juices; and Tropicana Twister juice
beverages. The Dole brand name is licensed from Dole Food Company, Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Information in this release relating to the Company's future
plans and performance are "forward looking statements" and, as such, involve
certain risks and uncertainties that could cause actual results to vary
materially. Potential risks and uncertainties include, but are not limited to:
(1) the highly competitive nature of the frozen dessert market and the level
of consumer interest in the Company's products, (2) product costing, (3) the
weather, (4) the performance of management, including management's ability to
implement its plans as contemplated, (5) the Company's relationships with its
customers, franchisees, licensees and licensors, and (6) government
SOURCE CoolBrands International Inc.
/CONTACT: Michael Serruya, Telephone: (905) 479-8762/
CO: CoolBrands International Inc.
-30--0- Jul/09/2003 12:30 GMT
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