
FOCUS Brands Inc., the owner of Carvel ice cream and Cinnabon, will add 50 locations this year to its fastest growing chain, Moe’s Southwest Grill, and expand into Turkey as the global recession recedes.
Atlanta-based FOCUS has signed a franchise agreement to add 40 Moe’s restaurants in Turkey over seven years, marking the brand’s first foray outside the U.S. and Canada, Mike Shattuck, president of FOCUS Brands International, said this week in an interview. The first of the Turkey locations will open in Istanbul’s Sapphire Tower in September, he said.
Moe’s, which serves “Homewrecker” burritos and quesadillas made to order with hand-chopped pico de gallo, will sell more franchise agreements in the first quarter of 2010 than it did all of last year, President Paul Damico said in an interview. Renewed access to financing and a rebound in same- store sales have helped fuel deals, he said.
“When the credit markets freeze up it’s very difficult to fund any kind of expansion if you’re a franchise owner,” Michael Schaefer, a consumer foodservice analyst for Chicago- based researcher Euromonitor Plc, said in an interview. “We’ve definitely seen that easing.”