Focus Brands is ending years of transformation efforts and entering a new era.
The company announced Tuesday that it will change its brand name to GoTo Foods and complete its transformation into an interconnected restaurant platform. The news was shared at the biennial conference in Las Vegas in front of operators from Auntie Anne's, Carvel, Cinnabon, Jamba, McAlister's, Moe's and Schlotzsky's.
“We are building on the strength, love, and strength of the seven iconic brands in our portfolio today to unlock future opportunities with our brand franchisees and, ultimately, consumers,” CEO Jim Holdhauser said in a statement. “Now more than ever, it's important to have a name that communicates and empowers aspirations.” In a statement. “GoTo Foods represents an open-ended vision firmly rooted in reality as we embrace the power of platform companies and look to a future of limitless possibilities.”
After Holthauser took over in 2020, GoTo Foods transitioned from a holding company with seven siled brands to one with enhanced, centralized systems shared across the portfolio, including a technology stack and loyalty platform. Ta. Since 2020, GoTo Foods has generated more than $4.2 billion in systemwide sales and earned $1.5 billion from licensing partners.
Specifically, in 2023, the company recorded double-digit year-over-year growth in adjusted EBITDA and royalty earnings. Additionally, internal supply chain streamlining has streamlined hundreds of his SKUs across his brands, the amount spent on paid media has more than doubled compared to 2022, and his CPG licensing business has Increased revenue and awareness with 10 new releases.
Development also continues to intensify, with a focus on multi-unit growth, co-branding and non-traditional developments. GoTo Foods has signed more than 1,150 franchise agreements, opened 398 restaurants, and added 4.6 million new loyalty members worldwide. The company has more than 2,000 non-conventional units in the United States and more than 2,000 international locations in more than 60 countries.
“We are a company made up of strong and beloved brands,” Holthauser said. “We have made strategic investments and laid the foundation for a bright future. We are building a dynamic, forward-looking company with positive momentum, connecting our company and our brands to inspire the people we serve. The timing was right to announce a new name that communicates our innovative organization.”
