Time for a comeback
Health guru to relaunch iconic doughnut brand
COLLAPSED sweet company Doughnut Time is set to be resuscitated after been bought by a local health and fitness entrepreneur.
Peter Andros, behind health food manufacturer Biotech Bodies, purchased the company, founded by Damian Griffiths, from the liquidators for an undisclosed sum after it was forced to shut in March owing nearly $3 million.
Mr Andros, who has worked with food brands in Australia and overseas including Burleigh-based company Infnite Nutrition, said he and his unnamed Australian and US-based partners wanted to save the beloved business.
“I think people miss the product,” Mr Andros said.
“I was one of the people standing in line for fresh doughnuts and when Doughnut Time went under, I saw an opportunity to save a great brand.”
The businessman plans to open five core stores, including one at Burleigh Heads. A handful of other stores will then be rolled out later this year.
“It’s no secret that the previous owners expanded too quickly,” Mr Andros said.
“Nobody from the previous ownership is involved with our relaunch of Doughnut Time, and our team plans to adopt a ‘start small’ approach to operations.”
The new stores are due to open from August 1, with a refresh of the menu also planned offering the likes of vegan, gluten-free and low-sugar doughnuts.
“With my background in fitness and health food products it made sense to extend the menu so that everyone could enjoy a doughnut treat,” Mr Andros said.
Despite Doughnut Time’s troubled past, Mr Andros believed he could once again make it a hit.
“We strongly believe in the Doughnut time brand and its value in the Australian marketplace,” he said.
“Doughnut Time products are iconic, fun and we look forward to bring them back better than ever before.”