NexCen Brands Sweetens Cookie Portfolio

NexCen Brands Inc. has acquired the Great American Cookie Company from Mrs. Fields Famous Brands LLC for $93.7 million, which consists of approximately $89 million of cash and NexCen common stock valued at approximately $4.7 million. This transaction adds a premium treat brand to the four brands in NexCen's quick service restaurant (QSR) portfolio, which include the premium, hand-mixed ice cream chains MaggieMoo's and Marble Slab Creamery, as well as the hand-rolled pretzel chains Pretzel Time and Pretzelmaker. Commenting on the acquisition, Robert W. D'Loren, president and CEO of NexCen, states, "Great American Cookies is a great opportunity for us to enter the cookie business with a premium cookie brand that has grown consistently over the years. The brand is representative of the acquisition opportunities NexCen has targeted to grow our QSR segment and to increase sales in our existing ice cream and pretzel concepts. The addition of this brand to our QSR portfolio provides NexCen with nearly 300 additional doors for the delivery of quality treat products, and broadens our franchise offering for interested franchisees, both domestically and internationally."