Welcome to our dedicated page for Franchise Group news (Ticker: FRG), a resource for investors and traders seeking the latest updates and insights on Franchise Group stock.
Franchise Group, Inc. (NASDAQ: FRG) is a diversified and rapidly growing holding company with a focus on acquiring and operating franchise businesses. Founded in 1997, Franchise Group currently owns and operates a diverse portfolio of brands across various sectors, including retail, tax preparation, and wellness. The company is renowned for its strategic acquisitions and robust operational capabilities, which enable it to enhance the growth and profitability of its subsidiaries.
One of Franchise Group's most notable subsidiaries is Liberty Tax, a leading tax preparation service provider. Established by tax industry expert John Hewitt, Liberty Tax has rapidly expanded its footprint with over 4,000 offices in the U.S. and Canada, prepared nearly 16 million individual tax returns, and supported a network of over 30,000 tax preparers. The company is recognized for its unique marketing strategies, including the iconic Liberty wavers, and its commitment to franchisee success.
Another significant brand under Franchise Group's umbrella is The Vitamin Shoppe, a global, omnichannel specialty retailer dedicated to providing nutritional solutions. With over 690 retail stores and a substantial online presence, The Vitamin Shoppe offers a wide array of vitamins, minerals, sports nutrition, and wellness products, including proprietary brands like BodyTech® and plnt®.
Franchise Group's recent achievements include the expansion of PHOCUS, a mental acuity beverage, through an exclusive partnership with The Vitamin Shoppe. This collaboration, highlighted by the introduction of a new pineapple flavor, underscores the company's commitment to innovation and quality. PHOCUS, co-owned by Grammy-nominated artist Jack Harlow, stands out in the functional beverages market with its clean and effective formula, featuring ingredients like L-Theanine for balanced alertness.
Financially, Franchise Group remains robust, consistently delivering strong revenue growth and maintaining a healthy balance sheet. The company's strategic acquisitions and partnerships, such as the recent collaboration between Gorilla Mind and The Vitamin Shoppe, continue to drive its market presence and consumer engagement.
Overall, Franchise Group's diversified portfolio, strategic growth initiatives, and focus on operational excellence position it as a significant player in the franchise industry, continually enhancing value for shareholders and delivering top-tier products and services to consumers.
Pathlight Capital has announced the closing of a $78.3MM upsized facility to its senior secured term loan credit facility for a Special Purpose Vehicle (SPV) predominantly owned by B. Riley Financial. This financing will assist in acquiring a portfolio of performing receivables from W.S. Badcock Corporation, a major home-furnishing retailer and subsidiary of Franchise Group (NASDAQ: FRG). Following this transaction, the total credit facility amounts to $198.7MM. Executives from both Pathlight and B. Riley emphasized their strong partnership and commitment to supporting Badcock's growth.
Franchise Group, Inc. (NASDAQ: FRG) has successfully upsized and completed a non-fungible add-on to its existing first lien term loan amounting to $300 million. The net proceeds are primarily intended for debt repayment under the Company’s ABL credit facility. JPMorgan Chase Bank led the financing arrangement, with UBS Investment Bank and Jefferies Finance LLC as joint lead arrangers. Franchise Group operates over 3,000 locations across various brands, including Pet Supplies Plus and The Vitamin Shoppe, focusing on generating strong cash flow for shareholders.
G FUEL has partnered with The Vitamin Shoppe to offer a selection of new gaming and anime-inspired energy drinks. Starting February 2, 2023, four flavors in 16 oz cans and five flavors in 40-serving tubs are available at The Vitamin Shoppe locations across the U.S. Notably, a new exclusive flavor, Soda Ice Candy, inspired by Naruto Shippuden, will be featured. Each can contains zero sugar, zero calories, and varying caffeine levels, with a focus on energizing gamers. This collaboration aims to tap into the growing e-sports market and enhance wellness for dedicated fans.
Franchise Group, Inc. (NASDAQ: FRG) announced a $200 million add-on financing for its existing term loan due March 2026. The funds will be utilized to pay down debt under its ABL credit facility. The company expects its fiscal 2022 results to align with its previous outlook, predicting approximately $4.3 billion in total revenue and at least $350 million in Adjusted EBITDA. JPMorgan Chase Bank is the lead arranger for this financing. The management assesses that the financial outlook is subject to risks that could affect actual results.
Clean Eatz Kitchen announces its ready-to-eat meals are now available online at VitaminShoppe.com, enhancing accessibility for health-conscious consumers. The meal options include popular dishes like Buffalo Chicken Mac & Cheese and Sweet and Sour Chicken. CEO Jason Nista highlighted the partnership's alignment with The Vitamin Shoppe's mission of promoting healthier living. Clean Eatz is recognized for its commitment to using fresh, whole ingredients, and the meals can be purchased for nationwide delivery, expanding its reach across the market.
Franchise Group, Inc. (NASDAQ: FRG) announced its participation in two investor conferences in January 2023. The events include the ICR Conference in Orlando, Florida, on January 9-10, and the CJS Securities 23rd Annual New Ideas for the New Year Conference virtually on January 11. Franchise Group operates over 3,000 franchised and company-run locations across brands like Pet Supplies Plus and The Vitamin Shoppe. The company focuses on expanding its portfolio and generating strong cash flow for shareholders.
Pet Supplies Plus and Wag N' Wash have signed over 115 franchise agreements in 2022, showcasing strong market demand. This includes a mix of existing owners and new franchisees attracted to their business models. The companies are recognized for their financial transparency, with Pet Supplies Plus earning a 900 FUND score, ranking it among the top five franchises. Franchise owners benefit from the growing $120 billion pet retail industry and share back-end support, enhancing operational efficiencies. The dual-brand approach aims to capitalize on rising pet spending.
Franchise Group (NASDAQ: FRG) has declared a quarterly cash dividend of $0.46875 per share for its Series A Cumulative Perpetual Preferred stockholders. This dividend will be payable on January 17, 2023 to stockholders of record as of the close of business on January 3, 2023. Franchise Group operates over 3,000 locations across various business lines including Pet Supplies Plus and The Vitamin Shoppe, focusing on generating strong cash flow to benefit its shareholders.
Franchise Group, Inc. (NASDAQ: FRG) announced a quarterly cash dividend of $0.625 per share, set for payment on January 17, 2023, to stockholders on record as of January 3, 2023. Franchise Group operates over 3,000 locations across various brands, including Pet Supplies Plus and The Vitamin Shoppe, aiming to enhance shareholder value through its operating philosophy and brand portfolio expansion.
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