TORONTO — The Serruya family, founders of Yogen Früz, has acquired a controlling interest in Scottsdale, Ariz.-based Kahala Corp., which owns Cold Stone Creamery and 14 other QSR brands.
“We are extremely pleased to become major shareholders of this outstanding company. We look forward to using the experience and skill sets we’ve obtained over the last 26 years in this industry, as owners and management of numerous quick-service restaurant brands, to work closely with the entire Kahala team to enhance and strengthen the franchise business model,” said Michael Serruya, the new chairman and co-CEO of Kahala, who will manage the portfolio with Kevin Blackwell, Kahala’s co-CEO.
Kahula Corp. owns and franchises brands such as Blimpie, TacoTime, The Great Steak & Potato Company, Johnnie’s New York Pizzeria and America’s Taco Shop; it generated approximately $1 billion in system-wide revenue last year. With 3,035 locations across 23 countries, the Serruyas plan to grow Kahala brands in international and North American markets.
