Crosstown has ‘real opportunity’ to continue its journey as a brand, particularly in the direct-to-consumer space, CEO Howard Ebison tells MCA.
While it is too early to talk specifics, there will be continued development in the direct-to-consumer space under new ownership, Ebison adds.
The premium doughnut, ice cream, and specialty coffee concept was acquired by Karali Group earlier this week in a pre-pack administration transaction. This included the acquisition of 27 operating locations and the transfer of 140 staff, including Crosstown’s leadership team.
“Crosstown has always been a destination location for foodies who want an exceptional taste experience,” Ebison says. “There is a real opportunity with ongoing investment and support, particularly in direct to consumer, to continue this journey.”
There are no further site closures to announce at this time, according to him. The brand endured a challenging retail climate, leading to the closure of its Brighton location.
Ebison did not comment on when Crosstown would return to the expansion trail, but said the business will continue to invest in the product.
“The team has amazing flavour experience in our artisanal bakery and we have worked over the years with amazing partners,” he added.
The business had been working with Interpath Advisory to explore investment options to support its continued operations and future expansions.
The acquisition by Karali is a testament to the strength of the brand as it embarks on a new chapter, Ebison commented.
Karali Group is a diversified, multi-national hospitality and real estate platform operating franchises in the fast-food, casual dining and hospitality sectors.
