What is the significance of the affiliation between Nothing Bundt Cakes and Carvel?
Nothing_Bundt_Cakes Franchise · 2025 FDDAnswer from 2025 FDD Document
ated Franchise Programs
Through control with private equity funds managed by Roark Capital Management, LLC, we are affiliated with the following franchise programs ("Affiliated Programs"). None of these affiliates operate a Nothing Bundt Cakes franchise.
GoTo Foods Inc. ("GoTo Foods") is the indirect parent company to seven franchisors, including: Auntie Anne's Franchisor SPV LLC ("Auntie Anne's"), Carvel Franchisor SPV LLC ("Carvel"), Cinnabon Franchisor SPV LLC ("Cinnabon"), Jamba Juice Franchisor SPV LLC ("Jamba"), McAlister's Franchisor SPV LLC ("McAlister's"), Moe's Franchisor SPV LLC ("Moe's"), and Schlotzsky's Franchisor SPV LLC ("Schlotzsky's"). All seven GoTo Foods franchisors have a principal place of business at 5620 Glenridge Drive NE, Atlanta, GA 30342 and have not offered franchises in any other line of business.
Auntie Anne's franchises Auntie Anne's® shops that offer soft pretzels, lemonade, frozen drinks, and related foods and beverages. In November 2010, the Auntie Anne's system became affiliated with GoTo Foods through an acquisition. Auntie Anne's predecessor began offering franchises in January 1991. As of December 31, 2024, there were 1,182 franchised and 11 affiliate-owned Auntie Anne's shops in the United States and 815 franchised Auntie Anne's shops outside the United States.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 8–19)
What This Means (2025 FDD)
According to the 2025 FDD, Nothing Bundt Cakes is affiliated with Carvel through shared control by private equity funds managed by Roark Capital Management, LLC. Neither Nothing Bundt Cakes nor Carvel operates the other's franchise. Carvel franchises Carvel® ice cream shoppes and is a leading retailer of branded ice cream cakes in the United States and a producer of premium soft-serve ice cream. As of December 31, 2024, there were 336 franchised Carvel shoppes in the United States and 39 franchised Carvel shoppes outside the United States.
This affiliation means that Nothing Bundt Cakes and Carvel are part of a larger portfolio of franchise brands under the Roark Capital Management umbrella. While they operate independently, they may share resources, best practices, and strategic insights at the parent company level. This can provide Nothing Bundt Cakes with access to a broader network of expertise in franchising, marketing, and operations.
For a prospective Nothing Bundt Cakes franchisee, the affiliation with Carvel and other franchise programs could be seen as a positive. It suggests that Nothing Bundt Cakes is backed by a sophisticated investment firm with experience in the franchise industry. However, it's important to note that the FDD states that none of these affiliates operate a Nothing Bundt Cakes franchise, meaning that franchisees should not expect direct operational involvement from Carvel or other affiliated brands. The franchisee should focus on the specific terms and conditions of the Nothing Bundt Cakes franchise agreement and the support provided directly by Nothing Bundt Cakes.
Roark Capital Management, LLC also has control over GoTo Foods Inc. which is the indirect parent company to seven franchisors, including: Auntie Anne's Franchisor SPV LLC (“Auntie Anne's”), Carvel Franchisor SPV LLC (“Carvel”), Cinnabon Franchisor SPV LLC (“Cinnabon”), Jamba Juice Franchisor SPV LLC (“Jamba”), McAlister's Franchisor SPV LLC (“McAlister's”), Moe's Franchisor SPV LLC (“Moe's”), and Schlotzsky's Franchisor SPV LLC (“Schlotzsky's”).