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 regulation. SOURCE CoolBrands International Inc. -0- 07/09/2003 /CONTACT: Michael Serruya, Telephone: (905) 479-8762/ (COB.A.) CO: CoolBrands International Inc. ST: Ontario IN: FOD SU: LIC -30--0- Jul/09/2003 12:30 GMT
CoolBrands and Tropicana sign master license for
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