Cuppy's Coffee Sold!

FORT WALTON BEACH, Fla. (Blue MauMau) – Cuppy's Coffee has been sold this past weekend for an undisclosed amount. Dale Nabors, founder and president of FranSynergy.com, a firm that provides back office solutions to franchise chains, has maneuvered FranSynergy to acquire a hundred percent of Medina Enterprises and all affiliated companies, including Cuppy's Coffee and Elite, taking on both assets and liabilities.

Mr. Robert Morgan and Ben Doyle have stepped down. The current president, Mr. Doug Hibbing, will be interim president until a replacement can be found.

Mr. Nabors had been providing consulting services to Cuppy’s franchise system for over a year on operational issues, including the setting up of a purchasing co-op of goods and services for franchisees.

The new owner gave a short interview to Blue MauMau discussing the immediate challenges the company has. Mr. Nabors states, "We are curtailing franchise sales. We are focusing our efforts on opening stores that have been sold. And we will focus on making profitable our open stores."

Elite, the construction arm that builds Cuppy's properties, has been embroiled in disagreements with Cuppy’s depositors and franchise owners. The organization took on deposits from a number of investors, but controversy erupted when franchises were not purchased and deposit money was not returned.

Nabors declares, "We are fully aware of the refund challenges faced by the organization and we are addressing those and evaluating those on a case-by-case basis and look forward to resolving those as quickly as possible."

Mr. Nabors will provide more details on the acquisition in an interview with this journal on Tuesday.