Cold Stone Creamery Enters Nigerian Market
VENTURES AFRICA – As part of its aggressive expansion scheme into the international market, American-based international ice cream confectionery, Cold stone Creamery has concluded plans signalling its entrance into the Nigerian market as its parent company, Kahala signed a 10 year Master Franchise Agreement with Ivybridge Trading Ltd., to bring the “Ultimate Ice Cream Experience” to Africa’s second biggest economy coupled with plans to open 9 stores in 5 years.
Ivybridge Trading Ltd. is a group made up of three of the strongest companies in Nigeria. Their businesses include retail and residential real estate, industrial production, construction, healthcare, hotels, catering, oil and retail.
The creamery company will be dealing with Eat ‘N’ Go Restaurant Group, a fast- rising group of restaurants known for its great taste and experience. The first-rate Nigerian QSR (Quick Service Restaurant) player, is set to commission the first two outlets of the global fast food brand on Victoria Island and Lekki, Lagos.
Since Cold Stone Creamery’s explosive international growth began in November 2005.
Nigeria is the 20th country the Creamery will be expanding to. The deal with Ivybridge marks the second agreement signed by the confectionery company to expand its brand in Africa this summer.
In June, Kahala signed a franchise agreement to develop within Egypt, marking the chain’s 19th country of operation and the first on the African continent.
The deal in Egypt includes a 10-year Master Franchise agreement with Squadra to bring the company’s ice cream experience to Egypt with the goal of establishing eight stores in the first four years.
Cold Stone Creamery stores are operating in more than 380 international locations and in 20 different countries including China, South Korea, Canada, Denmark and the United Arab Emirates.
Speaking on the new expansion, President of Ivybridge Trading Ltd, Marwan Dalloul said; “Cold Stone Creamery’s ice cream is a custom-made work-of-art that reflects one’s personality with its endless choices and combinations made of super-premium ingredients that are always fresh and tasty.”
“At Ivybridge Trading Ltd., we only partner with the best, finest and most unique brands. We are delighted to start providing Nigeria with the ‘Ultimate Experience’ within the ice cream industry.”
The ice cream giant will be the first national ice cream chain to provide the unique customizable serving experience in Nigeria. This, combined with Ivybridge’s operational know-how, ability to secure premiere locations, drive traffic to their stores, as well as their successful reputation for quality and innovation, makes for a likelihood of a very successful partnership.
“Since Nigeria is the trendsetter within Western Africa, finding a partner in this country was an undeniable next step to continue our growth within the continent,” said Dan Beem, Cold Stone Creamery’s International President.
“Ivybridge is an extremely well known company in Nigeria and the breadth of knowledge and experience they have in the market is second to none, which makes them the best and most perfect partner for Cold Stone Creamery in Nigeria,” he added.
Headquartered in Scottsdale, Arizona, Cold Stone Creamery is one of the fastest growing franchising companies in the world, with a portfolio of 15 quick-service restaurant brands and business operation in more than 1,500 locations in 20 countries.