Is Crisp & Green a subsidiary of another company?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
We are a Minnesota limited liability company organized on February 22, 2018, for the purpose of engaging in the sale of franchises of CRISP & GREEN® restaurants. Our principal business address is 746 Mill Street E, Wayzata, MN 55391. We conduct business under the name CRISP & GREEN® and the trademarks described in Item 13 and under no other names. Our agents for service of process are disclosed in Exhibit A. We have been offering franchises described in this disclosure document since April 17, 2018. We have never offered franchises in any other line of business.
Our Parent, Predecessors, and Affiliates
We have no predecessor. We are a wholly owned subsidiary of our corporate parent, Crisp & Green LLC, which we refer to as our "Parent." Our Parent is a Minnesota limited liability company organized on April 26, 2016, with a principal place of business at 746 Mill Street E, Wayzata, MN 55391. Our Parent, in turn, is a wholly owned subsidiary of Steele Brands Holdco LLC, a Delaware limited liability company organized on September 25, 2023, with the same principal place of business as our Parent.
Source: Item 1 — THE FRANCHISOR AND ANY PARENTS, PREDECESSORS, AND AFFILIATES (FDD pages 9–13)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, Crisp & Green Franchising LLC is a wholly owned subsidiary of Crisp & Green LLC, which is referred to as the "Parent." In turn, Crisp & Green LLC is a wholly owned subsidiary of Steele Brands Holdco LLC. Steele Brands Holdco LLC was organized on September 25, 2023. This structure indicates that Steele Brands Holdco LLC is the ultimate parent company of the Crisp & Green franchise system.
This multi-layered structure is not uncommon in franchising, as it allows for separation of liabilities and management responsibilities. The parent company, Steele Brands Holdco LLC, likely provides oversight and strategic direction for the Crisp & Green brand. The Parent provides certain services to Crisp & Green Franchising LLC, its affiliates, and each of its other subsidiaries, including accounting and payroll, human resources, management, technology, and other services typical in parent-subsidiary relationships.
For a prospective franchisee, this information is important for understanding the overall organization and support system behind the Crisp & Green franchise. It clarifies who the franchisee will ultimately be dealing with and the resources available to them. It also highlights the potential for shared services and resources across different brands within the Steele Brands Holdco LLC portfolio, as Crisp & Green has affiliates such as PURALIMA Cantina and formerly Stalk & Spade.
Understanding the parent-subsidiary relationship can also provide insights into the long-term stability and strategic direction of the Crisp & Green franchise. Franchisees may want to further investigate Steele Brands Holdco LLC to understand its overall business strategy and its commitment to the Crisp & Green brand.