Z Capital-backed Famous Brands appoints new CEO

Famous Brands International, a portfolio company of Z Capital Partners LLC, has named Jonathan T. Drake as CEO. Previously, Drake worked at global nutrition company GLANBIA plc where he served as vice president of the Europe, Middle East and Africa performance nutrition division. In addition to this job, Drake’s work background includes senior leadership positions at Sara Lee Corporation, The Virgin Group and Kraft Foods. Famous Brands International is the parent company of TCBY Yogurt and Mrs. Fields Cookies.

PRESS RELEASE

BROOMFIELD, Colo., Oct. 14, 2015 /PRNewswire/ — Famous Brands International (“Famous Brands”), the parent company of TCBY Yogurt and Mrs. Fields Cookies, today announced that it has appointed Jonathan T. Drake as Chief Executive Officer. Mr. Drake brings more than two decades of experience in driving profitable and sustainable growth as well as strategic brand building at leading food and nutrition companies to Famous Brands. As CEO, he will support Famous Brands in its continued product diversification and global expansion.

“I am pleased that Jonathan will lead Famous Brands during the Company’s exciting next phase of growth and expansion,” said James Zenni, Chairman of Famous Brands and Chief Executive Officer of Z Capital Group, L.L.C. “We are confident that Jonathan’s extensive experience will provide significant value to the Company and elevate the unique position of the TCBY and Mrs. Fields brands in the market. Under Jonathan’s leadership, Famous Brands will continue to capitalize on the significant potential of its platform and achieve even greater success around the globe.”

“I am thrilled to join the Famous Brands team,” said Jonathan T. Drake, Chief Executive Officer of Famous Brands. “Following the successful rollout of our unprecedented frozen yogurt vending machines, as well as the additions of Mrs. Fields Confections to our leading portfolio of brands, TCBY and Mrs. Fields are optimally positioned for growth in their respective markets. I look forward to working closely with the outstanding team at Famous Brands to build on our positive momentum and capitalize on the unique opportunities ahead.”

Mr. Drake was most recently a Vice President of the Europe, Middle East and Africa Performance Nutrition Division at GLANBIA, plc, a global nutrition company with operations in 34 countries, where he was responsible for the portfolio of performance nutrition brands focused on specialist, independent, gym, and online channels in the EMEA region. Prior to joining GLANBIA in 2012, Mr. Drake spent 20 years in senior leadership roles at Sara Lee Corporation, The Virgin Group, and Kraft Foods. In addition to his consumer products background, Mr. Drake is also a graduate of the U.S. Military Academy, West Point, and served in the U.S. Army between 1989 and 1992, receiving a number of awards and decorations.

Famous Brands is a portfolio company of Z Capital Partners, L.L.C., the private equity arm of Z Capital Group.

About Famous Brands

About Mrs. Fields Cookies:
Based in Broomfield, CO, Mrs. Fields Famous Brands, LLC dba Famous Brands International is the parent company to Mrs. Fields. Debbi Fields opened her first store in Palo Alto, California in 1977 and the Mrs. Fields name quickly became associated with warm, freshly baked cookies right out of the oven. Today, Mrs. Fields products are available at over 300 retail locations in the United States, nearly 100 locations internationally and online through http://www.mrsfields.com or by calling 1.800.COOKIES. For more information on Mrs. Fields please visit http://www.mrsfields.com.

About TCBY:
Based in Broomfield, CO, TCBY, The Country’s Best Yogurt, has been a frozen yogurt innovator from the day its first shop opened in Little Rock, Arkansas in 1981. With more than 650 locations in the United States and internationally, TCBY has long been a healthier alternative for consumers looking for a treat or snack. To learn more check out www.TCBY.com.

About Z Capital Group
Z Capital Group, L.L.C. and its subsidiaries (“Z Capital”) are leading global alternative investment managers with approximately $2.3 billion of regulatory assets under management having offices in New York, NY; Lake Forest, IL; and Zurich, Switzerland.

Z Capital manages opportunistic, value-oriented private equity and credit funds. Z Capital operates in an integrated manner, yet has distinct business platforms of private equity and credit funds. Our principals have applied this investment philosophy for over 20 years, deploying capital across the balance sheet of industry leading businesses and seeking to create value for our investors throughout economic cycles.

Z Capital’s investors include prominent global sovereign wealth funds, endowments, pension funds, insurance companies, foundations, family offices, and other institutions in North America, Europe, Asia, Africa and the Middle East. http://www.zcapgroup.net/

About Z Capital Partners
Z Capital Partners, L.L.C. (“Z Capital Partners”) is the private equity management arm of Z Capital Group, L.L.C (“Z Capital”). Z Capital Partners pursues a value-oriented, opportunistic approach in private equity that includes making control investments in companies that may require growth capital, balance sheet and/or operational improvements. http://www.zcap.net/.