ROCKY MOUNTAIN CHOCOLATE FACTORY FULL

The Company, its subsidiaries, franchisees and licensees currently operate over 255 Rocky Mountain Chocolate Factory stores across the United States, the Republic of Panama, and the Republic of the Philippines. The Company is a leading international franchiser of gourmet chocolate and confection, manufacturing an extensive line of premium chocolates and other confectionery products. Rocky Mountain Chocolate Factory, Inc., (the 'Company'), ranked number one on Newsweek's list of 'America's Best Retailers 2022' in the chocolate and candy stores category, is headquartered in Durango, Colorado. Details for the conference call will be provided in a separate press release.Ībout Rocky Mountain Chocolate Factory, Inc.

ROCKY MOUNTAIN CHOCOLATE FACTORY FULL

The Company will hold a conference call in the coming weeks to discuss its Fiscal Fourth Quarter and Full Year 2023 results and to introduce its new strategic transformation plan. The proceeds from the sale will be reinvested into our factory and equipment to drive operational efficiencies, product development, and improve product quality and consistency.” “This final divestiture enables us to focus on our core operations of manufacturing and marketing premium chocolate products for a consistently growing marketplace, while strengthening our commitment to RMCF franchisees. “The yogurt business has been a part of the Rocky Mountain Chocolate Factory family for over a decade, beginning with the launch of Aspen Leaf in 2010 and then our acquisition of U-Swirl in 2013,” said CEO Rob Sarlls. Between Fiscal Year 2017 and Fiscal Year 2022, revenue and adjusted EBITDA for the Company’s frozen yogurt operations segment declined 45% and 60%, respectively. In Fiscal Year 2022, the Company’s frozen yogurt operations segment generated approximately $2.9 million of revenue and $0.7 million of adjusted EBITDA (a non-GAAP measure defined below).

The Company’s sale of all remaining U-Swirl franchise-related assets, along with the separate sale of three formerly corporate-owned frozen yogurt stores to a third party in February 2023, represents the Company’s complete exit from frozen yogurt operations. (“U-Swirl”), the Company’s yogurt franchise business, to U Swirl, LLC, a related company of Fosters Freeze led by the team of Neal Dahya, Nimesh Dahya, and Kishan Patel. (NASDAQ: RMCF) (the 'Company,' 'we' or 'RMCF'), a leading manufacturer and international franchiser of gourmet chocolates and other confectionary products, today announced it has completed the sale of the franchise rights and associated intellectual property of U-Swirl International, Inc. Divestiture Reflects the Company’s Commitment to Manufacturing Premium Chocolate and Supporting its Confectionary Product NetworkĭURANGO, Colo., (GLOBE NEWSWIRE) - Rocky Mountain Chocolate Factory, Inc.

Rocky mountain chocolate factory