Famous Brands International has named Jonathan T. Drake CEO, the parent company to the TCBY Yogurt and Mrs. Fields Cookies brands said Wednesday.
The Broomfield, Colo.-based company named Drake to succeed Neal Courtney, who left the company earlier. Since April, the position had been filled on an acting basis by Jeffrey P. Werner, managing director and operating partner of Z Capital Partners, the parent company.
Drake most recently was vice president at Glanbia PLC, a global nutrition company, and oversaw a portfolio of nutrition brands in the Europe, Middle East and Africa region. Prior to joining Glanbia in 2012, Drake spent 20 years in senior leadership roles at such consumer products companies as Sara Lee Corp., The Virgin Group and Kraft Foods.
James Zenni, chairman of Famous Brands and CEO of private-equity owner of Z Capital Group LLC, said in a statement, "We are confident that Jonathan's extensive experience will provide significant value to the company and elevate the unique position of the TCBY and Mrs. Fields brands in the market.”
"Following the successful rollout of our unprecedented frozen yogurt vending machines, as well as the additions of Mrs. Fields Confections to our leading portfolio of brands, TCBY and Mrs. Fields are optimally positioned for growth in their respective markets,” Drake said in a statement.
Famous Brands is a portfolio company of Z Capital Partners LLC, the private-equity arm of Z Capital Group.
Mrs. Fields, founded in 1977, has more than 300 retail locations in the United States and 100 abroad. TCBY, also known as The Country’s Best Yogurt and founded in 1981, has more than 650 locations worldwide.
Update: Oct. 15, 2015 This story has been updated with the information on Famous Brands’ interim CEO.