Long-term Supply Contract with Focus Brand
Samyang Corp. will accelerate the global expansion of its frozen bakery business after signing a supply contract with a global company.
Samyang's foodstuff brand ServeQ announced on Nov. 8 that it has signed a long-term supply contract with Focus Brand, a global restaurant franchise company in the United States, and began supplying frozen bakery to all domestic stores of desert cafe Cinnabon.
According to the contract, ServeQ will develop and supply all cinnamon rolls from ingredients to frozen bakery to Cinnabon. In the long term, ServeQ is preparing to export its products to Cinnabon cafes in China, Japan and the Middle East. Samyang Corp. has become the first company to co-develop frozen cinnamon rolls outside the U.S.
Cinnabon is a global dessert cafe brand that started in Seattle in 1985 and is currently operating about 1,400 stores in approximately 50 countries around the world. In Korea, Cinnabon opened its first store in October last year and is now running 14 stores.
"Samyang Corp. is the only company that supplies ingredients and frozen bakery to Cinnabon in countries other than the U.S.," a ServeQ official said. "We are pursuing a variety of cooperation models such as expanding the supply of products to other bakery brands of Focus Brand in the future."
In May last year, ServeQ signed a long-term partnership agreement in technology and brand with Aryzta Group, Europe's No. 1 frozen bakery producer. In addition to developing and producing frozen bakery products, ServeQ is importing and distributing premium products. Samyang Corp. is the only company that develops and produces ready-to-bake (RTB) products in Korea.