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Yoma snags franchise deal to bring Auntie Anne's pretzels to Myanmar
YOMA Strategic Holdings on Wednesday said it has signed a franchise agreement with Focus Brands to bring the Auntie Anne’s brand of hand-rolled soft pretzels to Myanmar with the first store in Yangon to be opened in the coming months.
In a joint release, the companies added that they have a "more ambitious expansion planned over the next five years".
Said Yoma Strategic chief executive officer Melvyn Pun: “We are seeing considerable growth in the market for freshly baked goods. While many street vendors do offer traditional Myanmar alternatives, the addition of an iconic international brand will only enrich the local foodscape.
"Selected after an in-depth study on the dining preferences of consumers in Myanmar, Auntie Anne’s joins KFC and Little Sheep Hotpot in Yoma food and beverage's (F&B) expanding franchise portfolio. The entry of Auntie Anne’s also marks Yoma F&B’s first step into the freshly baked goods market, a move in line with the group’s goal of creating a nationwide, multisector F&B platform."
Auntie Anne's has 1,800 outlets in 30 countries and has established a strong presence in Asia with outlets in Thailand, Singapore, China and South Korea, among others.
Yoma shares closed at S$0.27 on Monday.