What is the relationship between Roark Capital Management, LLC and Cinnabon's affiliated franchise programs?

According to Cinnabon's 2025 Franchise Disclosure Document, Cinnabon is affiliated with other franchise programs through control by private equity funds managed by Roark Capital Management, LLC. Roark Capital Management is an Atlanta-based private equity firm. These franchise programs are referred to as "Affiliated Programs." It is explicitly stated that none of these affiliated programs operate a Cinnabon franchise.

This means that while Cinnabon is part of a larger portfolio of franchise brands under the Roark Capital Management umbrella, the other franchise brands do not operate Cinnabon franchises, and vice versa. This type of structure is common in the franchise industry, where private equity firms acquire and manage multiple franchise brands to leverage resources and expertise across different concepts.

For a prospective Cinnabon franchisee, this affiliation could provide certain benefits, such as access to shared resources, best practices, and potentially better negotiating power with suppliers. However, it also means that Cinnabon's strategic decisions could be influenced by the overall goals and priorities of Roark Capital Management and its other franchise brands. Franchisees should be aware of this potential influence and consider how it might impact their individual business.

It's important to note that the FDD also lists other affiliated franchise programs, such as Inspire Brands, Driven Holdings, McAlister's, Moe's, and Schlotzsky's, which are affiliated through GoTo Foods LLC, an indirect, wholly-owned subsidiary. These affiliations highlight the complex corporate structure and the various entities that may have an influence on the Cinnabon franchise system.