Larry Johnston, a former CEO of Albertsons Inc., is the new owner of 10-unit dessert chain The Peach Cobbler Factory, the company announced Tuesday.
Under the terms of the deal, which were not disclosed, Johnston formed a partnership with Greg George, who was named the chain’s CEO last week, to lead Peach Cobbler Factory Franchise Company LLC.
Juan and Tamira Edgerton, who founded the concept in 2013 in Nashville, have divested their interest in the company and will remain involved as advisors and franchisees.
“I am excited to be partnering with Greg George and the Peach Cobbler Factory team of associates and franchisees to achieve a goal of bringing this exciting dessert concept to millions of people across America and beyond,” Johnston said in a statement.
Last year, the Edgertons partnered with George to begin franchising the chain, which sells 12 varieties of cobbler, several different cinnamon rolls and riffs on banana pudding. In addition to its brick-and-mortar locations, it offers catering, mobile units and delivery.
George has held franchising executive positions in a number of chains, including Clean Eatz, Shuckin’ Shack and The Fuzzy Peach.
The Peach Cobbler Factory said it plans to open 50 locations by the end of the year and more than 200 new stores by the end of 2024. It said it has franchising commitments in 15 states.
Johnston was a General Electric executive when he was hired to turn around struggling grocery chain Albertson’s in 2001. He left the grocer in 2006 when the company was purchased by Supervalu.
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