Where can I find the audited financial statements of GoTo Systems, the parent company of Carvel?

According to Carvel's 2025 Franchise Disclosure Document, the audited financial statements of GoTo Systems, the parent company, are included as Exhibit A to the document. These statements include consolidated balance sheets as of December 29, 2024, and December 31, 2023, along with consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022.

As GoTo Systems guarantees Carvel's obligations under the Franchise Agreement, reviewing these financial statements is crucial for prospective franchisees. It allows them to assess the financial stability and overall health of the parent company backing the franchise. This information can help franchisees evaluate the level of risk associated with investing in a Carvel franchise.

Additionally, the FDD includes audited financial statements for GoTo Foods, which provides support and services to franchisees under a management agreement. However, GoTo Foods is not a party to the Franchise Agreement and does not guarantee Carvel's obligations. Therefore, while these statements are provided for disclosure, the financial statements of GoTo Systems are more directly relevant to the security of the franchise agreement.