Are there any exceptions to the statement that none of Carvel's affiliates operate a Carvel franchise?
Carvel Franchise · 2025 FDDAnswer from 2025 FDD Document
Through control with private equity funds managed by Roark Capital Management, LLC, an Atlanta-based private equity firm, we are affiliated with the following franchise programs ("Affiliated Programs"). None of these affiliates operate a Carvel franchise.
Source: Item 1 — The Franchisor and any Parents, Predecessors, and Affiliates (FDD pages 9–24)
What This Means (2025 FDD)
According to the 2025 Carvel FDD, Carvel states that none of its affiliates operate a Carvel franchise. The document specifies that Carvel is an indirect, wholly-owned subsidiary of GoTo Foods LLC, and a direct, wholly-owned subsidiary of GoTo Foods Systems LLC. GoTo Foods is the indirect parent company of six other franchise systems. These affiliated programs include Moe's Southwest Grill, Schlotzsky's, Inspire Brands, School of Rock, Doctor's Associates LLC (Subway), and NBC Franchisor LLC (Nothing Bundt Cakes).
The FDD explicitly states that through control with private equity funds managed by Roark Capital Management, LLC, Carvel is affiliated with other franchise programs, but none of these affiliates operate a Carvel franchise. This statement suggests that while Carvel shares parent companies and affiliations with other franchise systems, these related entities do not operate any Carvel franchises themselves.
This information is important for prospective franchisees as it clarifies the relationship between Carvel and its affiliated brands. While there may be opportunities for co-branding, such as with Cinnabon, the FDD emphasizes that the other franchise systems under the GoTo Foods umbrella do not operate Carvel franchises. This distinction helps potential franchisees understand that they will not be competing with company-owned or affiliate-operated Carvel locations.