Poore in Licensing Agreement with Cinnabon
Poore Brothers Inc. announced that it has signed a licensing agreement with Cinnabon Inc., a subsidiary of AFC Enterprises Inc., for the development, manufacture and sale of snack food products using the Cinnabon brand name.
Poore Brothers is in the process of conducting concept, product and consumer tests on a variety of snack food products and currently plans to commence market testing some of these products under the Cinnabon brand name during the next six months. The multi-year agreement with Cinnabon grants exclusive brand licensing rights for certain snack food categories. The specific terms of the agreement were not disclosed.
Thomas W. Freeze, Poore Brothers' president and chief executive officer, commented, "The licensing partnership with Cinnabon is an important initiative for our company. The Cinnabon brand is recognized nationally as the leader in the cinnamon roll bakery category and as an indulgent snack food experience. The products being tested are designed to deliver the same 'wow' experience you would come to expect from a Cinnabon product."
"We are very excited about our new partnership with Poore Brothers," commented Chris Elliott, president of Cinnabon Inc. "Their innovative brand marketing and product development capabilities make them an ideal partner for Cinnabon. We're excited to be involved with the development of these products to ensure they deliver on our consumers' expectations for the brand and that the consumers continue to have an emotional bond with the products."
"We believe that Cinnabon is an excellent strategic fit for our diversified line of snack foods, and is continued evidence of our commitment to innovation and to building a family of Intensely Different national snack food brands," concluded Freeze.