Cinnabon Operation In Moscow Continues At Shopping Mall Where Owner Atlanta, Georgia-Based Roark Capital Recently Closed Carl’s Jr. Location.
From The Company
“Founded in Seattle in 1985 and now based in Atlanta, Cinnabon is the market leader among cinnamon roll bakeries. The company serves fresh, aromatic, oven-hot cinnamon rolls, as well as a variety of other baked goods and specialty beverages. Cinnabon currently has more than 1,600 franchised locations worldwide, primarily in high traffic venues such as shopping malls, airports, train stations, travel plazas, entertainment centers and military establishments. “
“Cinnabon is also a multi-channel licensor, focused on driving multi-channel growth across consumer relevant occasions whether on the go, in grocery stores, schools, at home or in the office. It all started with a father, a son and a mission to create the world’s greatest cinnamon roll from scratch. Add in one master baker, months of trial and error, hundreds of different recipes and— BOOM!—you’ve got the sweet, cinnamon-spiced perfection that soon became the calling card of Cinnabon®.
When the father-son duo finally landed on the most magical combination of exceptional ingredients from across the globe, they knew they’d created the perfect recipe. So on December 4, 1985, they transformed their hard-earned dream into a delicious reality with the opening of the first Cinnabon® Bakery in the SeaTac Mall in Seattle, Washington. Devoured by thousands of eager, waiting guests, the original Cinnabon® cinnamon roll became an instant obsession. To this day, the Cinnabon experience continues to grow to delicious new heights. Not only are there now locations throughout the nation and in over 50 countries worldwide, but the menu has also expanded to offer exciting, new ways for guests to enjoy the irresistible pleasure that only Cinnabon can provide. Cinnabon® is now one of the world’s most-recognized and sought-after brands. You’ll find it where you shop, travel, dine and play. In fact, you can even find it on grocery store shelves to enjoy our bakery inspired cinnamon rolls right in your own home. And the best news is Cinnabon is just getting started.”
LINK TO PREVIOUS POST: 4/14/23- Carl’s Jr. Restaurant Continues To Operate In Moscow. Brand Owned By Atlanta, Georgia-Based Roark Capital. Does Presence Fit With Roark’s “Core Values”? They Don’t Want To Talk About It. Why?
Roark Capital Group is an American private equity firm with over $33 billion in assets under management. The firm is focused on leveraged buyout investments in middle-market companies, primarily in the franchise/multi-location, restaurant and food, health and wellness, and business services sectors. Wikipedia
Assets under management: 33 billion USD
Subsidiaries: Focus Brands, Miller's Ale House, Orangetheory Fitness, Primrose Schools
Headquarters: Atlanta, GA
Founded: 2001
Owner: Neal K Aronson bloomberg.com
Managing director: Paul D. Ginsberg
Key people: Paul D. Ginsberg; (President); Erik O. Morris; (Chief Investment Officer)
Cinnabon is an American chain of baked goods stores and kiosks, normally found in areas with high pedestrian traffic such as malls, airports and rest stops. The company's signature item is the cinnamon roll. There are a reported 1,200 Cinnabon bakeries operating in 48 countries. Parent organizations: Popeyes, Focus Brands, Cinnabon International, Inc. all owned by Roark Capital Group
Founders: Rich Komen, Greg Komen
Founded: 1985, Seattle, WA
Headquarters: Atlanta, GA
CKE Restaurants Holdings is an American fast food corporation and is the parent organization for the Carl's Jr., Hardee's, Green Burrito, and Red Burrito brands. CKE Restaurants is a subsidiary of the private equity firm, Roark Capital Group, and is headquartered in Franklin, Tennessee.
CEO: Ned Lyerly (Apr 12, 2019–)
Headquarters: Franklin, TN
Subsidiaries: Carl's Jr., Hardee's, Red Burrito, MORE
Owner: Roark Capital Group
Founder: Carl Karcher
Founded: 1966
Number of employees: 20,200 (Jan 2012)
Carl's Jr. Restaurants LLC is an American fast food restaurant chain operated by CKE Restaurant Holdings, Inc., with franchisees in North & South America, Asia, Oceania, Europe and Africa.
Founded: July 17, 1941, Anaheim, CA
CEO: Ned Lyerly (Apr 12, 2019–)
Parent organizations: Hardee's, CKE Restaurants
Customer service: 1 (877) 799-7827
Founders: Carl Karcher, Margaret Karcher
Formerly: Carl's Drive-In Barbecue (1941–1956)
Hardee's Restaurants LLC is an American fast-food restaurant chain operated by CKE Restaurants Holdings, Inc. with locations primarily in the Southern and Midwestern United States. The company has evolved through several corporate ownerships since its establishment in 1961 in North Carolina.
Headquarters: Franklin, TN
Founder: Wilber Hardee
Customer service: 1 (877) 799-7827
Founded: June 23, 1960, Greenville, NC
Number of locations: 5,812 (February 2016)
Parent: Imasco (1981–1997); CKE Restaurants; (1997–present)
From Roark Capital Group
Roark (https://www.roarkcapital.com/) is an Atlanta‐based private equity firm with $35 billion in assets under management. Roark focuses on investments in consumer and business service companies, with a specialization in franchise and franchise-like business models.
“Neal [Aronson] founded Roark in 2001 and is a member of Roark’s Investment Committee. In addition to his responsibilities as Managing Partner, Neal is most actively involved in Roark’s investments in Inspire Brands, Driven Brands, FOCUS Brands and Primrose Schools, and was previously the Chairman of the Board of Roark’s prior investment in Wingstop. Prior to founding Roark, Neal was Co-Founder and CFO of U.S. Franchise Systems (“USFS”). Neal helped transform USFS from one brand with 22 hotels in nine states to three brands with more than 500 hotels in 50 states and five countries, making USFS the tenth largest hotel company in the United States. Prior to founding USFS, Neal was a Principal of Odyssey Partners, L.P., a private investment partnership founded by Jack Nash and Leon Levy. Prior to Odyssey, Neal was a Principal and General Partner at Acadia Partners, L.P. (now Oak Hill Partners) and subsequently a Managing Director of a successor company, Rosecliff Inc. Neal began his career in the corporate finance department at Drexel, Burnham, Lambert Incorporated. Neal received a B.A. from Lehigh University.”
Roark prides itself on being a trusted partner for management and business owners. We believe that successful partnerships begin with providing a compelling value proposition to all business constituencies. A win‐win‐win approach leads to a positive business environment where all stakeholders – customers, employees, franchisees, strategic partners, service providers, management and shareholders – share in the growth and success of our businesses. We want to partner with entrepreneurs and executives who share this vision.
Since inception, affiliates of Roark have acquired 105 franchise/multi‐location brands which generate approximately $70 billion in system revenues from ~67,700 locations located in 50 states and 89 countries. Our portfolio companies span multiple industries including food, restaurants, consumer and business services, health, wellness and fitness, and education and youth activities.
Our largest sector, food and restaurants, encompasses investments in brands such as: Inspire Brands (the owner of Arby’s, Baskin Robbins, Buffalo Wild Wings, Dunkin’, Jimmy John’s, and Sonic), Nothing Bundt Cakes, CKE Restaurants (the owner of Carl’s Jr and Hardee’s), FOCUS Brands (the owner of Auntie Anne’s Pretzels, Carvel Ice Cream, Cinnabon, Jamba, McAlister’s Deli, Moe’s Southwest Grill, and Schlotzsky’s), Miller’s Ale House, Culver’s, The Cheesecake Factory (the owner of North Italia and Flower Child), Jim ‘N Nick’s BBQ, and previously Corner Bakery, Il Fornaio, Naf Naf Middle Eastern Grill and Wingstop.
Our consumer products and services investments have included Driven Brands (the owner of ABRA, ATI, CARSTAR, International Car Wash Group, Maaco, Meineke, Take 5, Uniban, 1‐800 Radiator, Auto Glass Now, and others), ServiceMaster Brands (the owner of ServiceMaster Restore, ServiceMaster Clean, Merry Maids, and Two Men and a Truck), Pet Supermarket, Pet Valu, Orangetheory Fitness, Massage Envy, Mathnasium, Primrose Schools, Self Esteem Brands (the owner of Anytime Fitness, Basecamp Fitness, The Bar Method, Waxing the City, and Stronger U), Fitness Connection, Youth Enrichment Brands (the owner of US Sports Camps, US Baseball Academy, i9 Sports, Streamline Brands and KE Camps), Great Expressions Dental Centers, and previously Atkins Nutritionals, Batteries Plus Bulbs, Drybar, FASTSIGNS, and US Franchise Systems.
Our business services investments have included Divisions Maintenance Group, Driven Brands, ServiceMaster Brands, Installation Made Easy, and previously Solterra Recycling Solutions, Batteries Plus Bulbs, CyberCore, FASTSIGNS, Money Mailer, Peachtree Business Products, PSC, Quala, Waste Pro, and GFL Environmental.
The Meaning of Roark
Roark was named after Howard Roark, the protagonist in Ayn Rand's book The Fountainhead. Our name signifies our admiration for the qualities embodied by Howard Roark but, as a firm of diverse viewpoints, it does not signify adherence to any particular political philosophy. Howard Roark's unwavering commitment to his individualistic architectural style put him at odds with the then entrenched powers and prevailing popular whims. While many of his peers surrendered to those powers and whims to attain fortune and fame, he refused to succumb and stayed true to himself and his work, at great personal cost. Eventually, the prevailing architectural elites were exposed as frauds, and Howard Roark was vindicated and celebrated as visionary. Integrity, as demonstrated by Howard Roark, is a commitment to one's own thinking, philosophy and viewpoint in the face of all opposition. Howard Roark's life exemplified the qualities of independence and integrity. Our investment style and business philosophy is meant to emulate those principles of independence and integrity. We seek to invest in outstanding companies in partnership with exceptional operating executives in a manner that promotes and reflects our Core Values, regardless of conventional wisdom or fad. We are committed to being a good partner in good times, and a great partner in bad times.
Roark's Core Values
INTEGRITY. We are open, honest, direct and trustworthy. We always deliver on our promises.
COMMITMENT. We are hard working with a high sense of urgency and low egos.
COLLABORATION. We are supportive, upbeat and energetic partners, good listeners and problem solvers. We are good partners in good times and great partners in bad times.
IMPROVEMENT. We continually seek to identify and implement better and best practices. We strive for continual improvement within our companies, our firm and ourselves.
COMMUNICATION. We seek and provide timely, effective and accurate communications.
EXPECTATIONS. We do not settle for “good enough.”
ANALYTICAL. We measure performance and make fact-based decisions.
RECOGNITION. We recognize and reward exceptional performance.
ACCOUNTABLE. We hold ourselves and our teams accountable for results.
TRANSPARENCY. We seek transparency with our management teams and our investors.
RESPONSIBILITY. We treat our investors’ money as if it were our own.
TRUST. We trust each other and seek partnerships with people who we trust and who trust us.
