The New York dessert brand known for its banana pudding has signed its first Canadian franchise deal, and the numbers behind it signal a serious real estate program for the GTA.
New York-based dessert chain Magnolia Bakery announced its expansion into Canada through a franchise agreement to open 10 new locations across Ontario. The multi-unit deal introduces the brand into its eighth international market and its first English-speaking territory outside the United States.
The expansion is spearheaded by franchise operators Chetanshi and Shaishav “Shay” Thakkar, who bring over a decade of multi-unit franchise experience to the brand. According to reports from 6ixretail.com, the 10-unit commitment represents a capital deployment exceeding 10 million CAD before accounting for Canadian construction costs.
“Canadians we heard you & we’re heading north,” said Magnolia Bakery in a LinkedIn post.
The expansion aims to bring the whimsical dessert shop to Canadian consumers while building on the brand’s rapid global growth. Franchise officials noted that the primary objective of partnering with local operators is to expand the footprint efficiently.
“grow the brand” was the stated goal of the expansion led by franchisees Chetanshi and Shaishav “Shay” Thakkar.
The business model relies heavily on its signature banana pudding, which drives global operations by selling five cups every minute worldwide. According to reports from worldcoffeeportal.com, the chain has entered its largest expansion year on record, aiming for 50 international shops by the end of 2026 under the ownership of private equity firm RSE Ventures.
“Canadians, we heard you and we’re heading north,” the company wrote.
While specific geographic locations and opening timelines within Ontario remain unconfirmed, the real estate program is expected to focus significantly on the Greater Toronto Area.
Source: akses.co.id
