When did CPGF Holdings transfer its ownership of Minus Zero4 to Amorino USA?
Amorino Franchise · 2025 FDDAnswer from 2025 FDD Document
In March 2020, the owners of CPGF Holdings restructured the Amorino brand system in the United States. Specifically, CPGF Holdings transferred its ownership of Minus Zero4 and its other wholly owned affiliates to Amorino USA, including Amorino Trading, and transferred 51% of its ownership in 60UP to Amorino USA and 49% of its ownership in 60UP to Luigi Caroggio and Filippo Saccani. Caroggio and Saccani relinquished their ownership of CPGF Holdings. Caroggio and Saccani's company, FilloGigi1 LLC, a New York limited liability company, took on the management of the Store (owned by 60UP LLC) on University Place in New York City, and ownership of the Store located on Amsterdam Avenue in New York City. CPG SAS has issued a trademark license agreement to CPUSA to permit CPUSA to use the brand in the United States. Under this revised ownership, CPUSA is responsible for the issuance of Amorino franchises in the United States. We have been offering franchises for Amorino brand outlets in the United States since August 2020.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS, AND AFFILIATES (FDD pages 8–12)
What This Means (2025 FDD)
According to Amorino's 2025 Franchise Disclosure Document, CPGF Holdings transferred its ownership of Minus Zero4 to Amorino USA in March 2020. This transfer was part of a larger restructuring of the Amorino brand system in the United States. As part of this restructuring, CPGF Holdings also transferred its ownership of Amorino Trading and 51% of its ownership in 60UP to Amorino USA. Additionally, 49% of CPGF Holding's ownership in 60UP was transferred to Luigi Caroggio and Filippo Saccani.
This restructuring also involved Caroggio and Saccani relinquishing their ownership of CPGF Holdings. Their company, FilloGigi1 LLC, took over the management of the Amorino store on University Place in New York City, as well as ownership of the store on Amsterdam Avenue in New York City. Following these changes, CPUSA became responsible for issuing Amorino franchises in the United States, beginning in August 2020.
For a prospective franchisee, this information illustrates the evolution of the Amorino franchise structure in the U.S. It highlights the shift in ownership and responsibilities from CPGF Holdings and Minus Zero4 to Amorino USA. This also indicates that the current franchise operations are managed by CPUSA since August 2020, under a revised ownership structure. Understanding this history can provide context for the current franchise agreement and the roles of the various entities involved.