News Article - August 01, 2007

Rocky Mountain Chocolate Factory, Inc. and The Grove, Inc. Sign Agreement for Development of Airport Retail Store at PHL and other Airports  
  DURANGO, Colo., Aug. 1 /PRNewswire-FirstCall/ -- Rocky Mountain Chocolate Factory, Inc. (the "Company"), which franchises gourmet chocolate and confection stores and manufactures an extensive line of premium chocolates and other confectionery products, and The Grove, Inc., a privately owned retailer of natural snacks and other branded food products, today announced the signing of an Airport Franchise Development Agreement ("the Agreement") that should accelerate the opening of Rocky Mountain Chocolate Factory stores in high-volume airport locations throughout the U.S.

   Under the terms of the Agreement, The Grove will have the exclusive right to open Rocky Mountain Chocolate Factory stores in all airports in the United States where there are no Rocky Mountain Chocolate Factory stores currently operating or under development. The agreement excludes the following airports, where Rocky Mountain Chocolate Factory stores are currently operated or under development by other franchisees: Denver International Airport, Minneapolis/St. Paul International Airport, Charlotte (NC) International Airport, Salt Lake City International Airport, Phoenix International Airport, and Philadelphia International Airport.

   The Grove currently owns and operates food and beverage units as well as retail stores in 13 airports throughout the United States. The Grove has 65 outlets that include the following brands: The Grove Natural Snacks(TM), I Can't Believe It's Yogurt!(C), Swensen's Ice Cream(C), Subway(C), Dunkin Donuts(C), Smoothie King(C) and of course, Rocky Mountain Chocolate Factory!

   "We are very excited about this opportunity and welcome The Grove into the Rocky Mountain family as a Master Franchisee," stated Bryan Merryman, Chief Operating Officer of Rocky Mountain Chocolate Factory, Inc. "We have been very pleased with the airport stores that have opened in recent years, which generally rank among the highest-volume locations in our entire retail network. By partnering with The Grove, we expect the pace of new airport store openings to accelerate, with at least ten stores likely to open during the first two years of the Agreement."

   "By combining our airport retail experience and Rocky Mountain's reputation for outstanding hand-dipped chocolates and related products, this should be a powerful strategic relationship for both companies," commented Michelle Dukler, President & CEO of The Grove, Inc. "We recently opened a Rocky Mountain Chocolate Factory store in the DFW International Airport and a co-branded Grove Natural Snacks / Rocky Mountain Chocolate Factory store in Atlanta's Hartsfield International Airport (the nation's busiest airport), and our early experience with these locations justifies the enthusiasm with which we enter into this Agreement."

Source - PR Newswire