CIC Partners Announces CIC Advantage Holdings LLC

New fund will focus on early-stage retail and restaurant concepts

DALLAS, Nov. 6 /PRNewswire/ -- CIC Partners is pleased to announce the
creation of CIC Advantage Holdings LLC, a new CIC fund geared toward making
investments in multi-unit restaurant and retail concepts looking to maximize
growth potential.
The fund will be managed by three of the most experienced names in retail
and restaurants: John Antioco, former CEO of Blockbuster, Roger Enrico, former
CEO of PepsiCo, Inc., and CIC Managing Partner Mike Rawlings, former President
of Pizza Hut and current CEO of Legends Hospitality Management LLC. CIC
Advantage Holdings will look to make significant investments in proven, early-
stage retail and restaurant concepts, and in addition to capital, will provide
hands-on growth strategy development and leadership from these three prominent
former CEOs.
"CIC Advantage Holdings allows us to couple private equity and financial
support with unparalleled retail and restaurant operating experience," said
CIC Managing Partner Mike Rawlings. "This positions us to add incredible value
to early-stage concepts that demonstrate significant growth potential."
"By leveraging the experience of CIC Partners' investment history in
restaurant and retail businesses, we believe that CIC Advantage will guide
exceptional performance from our portfolio companies," said CIC Operating
Partner John Antioco, who will serve as Chairman and CEO of CIC Advantage
Holdings.
CIC Advantage Holdings' inaugural investment is a $12 million capital
infusion in Red Mango, Inc. The all-natural, nonfat frozen yogurt chain is
poised to be an industry trendsetter, and is led by Daniel J. Kim, who is a
widely recognized pioneer of the tart variety of health conscious frozen
yogurt in the U.S. Currently, Red Mango is the second-largest retail chain of
its type, with over 40 stores across California, Hawaii, Illinois, Nevada, New
Jersey, New York, Oregon, Utah and Washington. Under the direction of CIC
Advantage Holdings and John Antioco as Chairman of Red Mango, the brand has
plans to expand to over 400 locations over the next four years.
"CIC's proven investment record and their ability to help Red Mango
realize its full potential in the United States made them ideal partners,"
said Red Mango CEO Daniel Kim. "CIC's partner base includes experienced
restaurant and retail industry insiders who serve as valuable advisors to Red
Mango."
About Red Mango
Founded in 2002 in South Korea, Red Mango has become one of the most
popular and fastest growing retailers of authentic nonfat frozen yogurt in the
United States. Red Mango opened its first U.S. store in July 2007 in Los
Angeles and has since celebrated over 40 store openings in California, New
York, Washington, Illinois, Hawaii, New Jersey, Nevada, Utah, and Oregon. Red
Mango's most unique factor is its refreshingly tangy and irresistibly
delicious frozen yogurt that is all-natural, nonfat, gluten-free, certified
Kosher, and packed with beneficial live and active cultures. For more
information about Red Mango, please visit redmangousa.com.
About CIC Partners
CIC Partners is dedicated to helping the companies it invests in prosper
and grow. As one of America's premier mid-market private equity firms, CIC
Partners has successfully invested in more than 40 companies in industries
including food, retail, energy and healthcare with combined revenue of more
than $4 billion. CIC's experienced leadership team actively guides and
supports their portfolio companies, and invests significant personal capital
to align all stakeholders. As such, CIC has helped companies including
CTI Foods, Quiznos, Restoration Hardware and Solacium Holdings realize their
potential. For more information about CIC Partners, please visit
www.cicpartners.com.
SOURCE CIC Partners

Kyle Tarrance, +1-214-871-7723, ktarrance@allynco.com, for CIC Partners