Figaro Coffee Group, Inc.'s Board Approved to Change its Corporate Name

The Board of Directors of Figaro Coffee Group, Inc. (FCG) approved to change the corporate name from “Figaro Coffee Group, Inc.” to “Figaro Culinary Group, Inc.”.

The Board has determined that it is in the best interest of the Company to change its corporate name to better reflect its strategic vision and broaden its brand identity. The proposed new name, “Figaro Culinary Group, Inc.” will outline the Company’s commitment to quality and innovation as it expands its offerings to include a wide range of culinary products and experiences.
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Stockholders’ approval will be sought during the 2024 Annual Stockholders' Meeting scheduled on 04 December 2024. There will be no change in the Company’s stock symbol.

Figaro Coffee Group Inc. (FCG) was incorporated on July 6, 2018 as a wholly-owned subsidiary of Carmetheus Holdings, Inc. primarily to process, manufacture, package all kinds of food products, and establish, invest, develop, operate and maintain restaurants, coffee shops and refreshments parlors, among others.

FCG has one subsidiary, Figaro Coffee Systems, Inc. (FCSI), through which it operates and/or franchises a network of retail restaurants. These include Figaro Coffee, a coffee shop chain with domestic and international branches; Angel's Pizza, a pizza store chain; Tien Ma's, a Taiwanese cuisine restaurant chain; Koobideh Kebabs, a casual-dining persian kebab chain; and Café Portofino, a cloud-kitchen outlet which primarily serves a variety of food and pastries.

As of July 29, 2024, Figaro Coffee Group operates a total of 206 stores across all brands.