Is Beard Papas a subsidiary, and if so, of which company?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
Muginoho International, Inc. (the "Company") was incorporated under the laws of the State of New York in 2002 as a wholly-owned subsidiary of Muginoho Holdings Co., Ltd., a Japanese corporation. The Company franchises and operates Beard Papa's® quick-service restaurants, which specialize in the preparation of cream puffs and other desserts. On April 15, 2016, Muginoho Holding Co., Ltd entered into an agreement to transfer all 10 shares of the Company's common stock to Nagatanien Holdings Co., Ltd. As a result, the Company has become a wholly-owned subsidiary of Nagatanien Holdings Co., Ltd (the "Parent").
Source: Item 23 — RECEIPTS (FDD pages 58–275)
What This Means (2025 FDD)
According to Beard Papas's 2025 Franchise Disclosure Document, Muginoho International, Inc. (the "Company") is a wholly-owned subsidiary of Nagatanien Holdings Co., Ltd. This means that Nagatanien Holdings Co., Ltd. owns all of the common stock of Muginoho International, Inc., which franchises and operates Beard Papa's quick-service restaurants.
Specifically, Muginoho International, Inc. was initially incorporated in New York in 2002 as a subsidiary of Muginoho Holdings Co., Ltd., a Japanese corporation. However, on April 15, 2016, Muginoho Holdings Co., Ltd. transferred all of its shares of Muginoho International, Inc. to Nagatanien Holdings Co., Ltd. Since then, Beard Papas has been a wholly-owned subsidiary of Nagatanien Holdings Co., Ltd.
As of December 31, 2024, Beard Papas had 42 franchised stores and one company-operated store in the United States. Understanding the ownership structure is important for prospective franchisees as it clarifies who ultimately controls the Beard Papas franchise system and makes strategic decisions for the brand.