Cold Stone Creamery
Cold Stone Creamery is an ice cream shop known for its custom creations, from scoops with a variety of candy “mix-ins” that are blended on a cold slab of marble, to cakes, shakes and other signature treats.
The Cold Stone franchisor in 2007 merged with the multiconcept franchise group Kahala Corp., which included brands such as Blimpie, Taco Time and Surf City Squeeze. In 2016, Kahala was acquired by Canada-based MTY Food Group Inc. in a deal valued at about $300 million. The merger created a multiconcept group that operated 57 brands across the U.S. and Canada at the time. By 2020, MTY was franchisor to more than 75 brands.
As a result of the pandemic, however, MTY in 2020 announced the temporary closure of about 2,100 stores, laying off about half of its workforce.
Key Data: Cold Stone Creamery
Headquarters: Scottsdale, Ariz.
Segment: Quick Service
Restaurant segment: LSR dessert/snack
Number of U.S. locations: 925
2020 Sales: $355.3 million
Source: Datassential Firefly 500
CEO: Kevin Blackwell
Parent: Kahala Brands/ MTY Food Group Inc.