News

Dean Foods acquires Friendly's

May 10, 2016

Friendly's Ice Cream LLC announced today it is selling its retail ice cream and manufacturing business to Dallas, Texas-based Dean Foods Company. Friendly's restaurant business, however, remains under the ownership of affiliate Sun Capital Partners Inc.

Dean Foods not only produces Friendly's ice cream products, but is the nation's largest processor and direct-to-store distributor of fresh fluid milk and other dairy products. Friendly's ice cream is sold in more than 8,000 retail locations and, according to a news release from the company, that business has grown 105 percent in the past five years.

"Today marks a new chapter for Friendly's retail and manufacturing ice cream business," said Friendly's President and CEO John Maguire. “I am thrilled that Dean Foods will be the ongoing steward of the retail ice cream business, led by the current experienced retail and creamery teams."

Friendly's ice cream-centric restaurant chain has more than 260 U.S. locations in the United States, which will continue under the ownership of Sun Capital Partners, Inc. and the management of the senior restaurant team.  

"The restaurants have experienced tremendous growth in sales and guest traffic over the last 15 months; a direct result of the introduction of new and exciting menu items, extensive renovations to existing locations, compelling value propositions and the addition of drive-thru windows," Maguire said.

The 81-year-old chain has system-wide sales of in excess of $500 million.