News

U-Swirl acquires Josie's Frozen Yogurt

October 2, 2013

U-Swirl Inc. has acquired the business assets of Josie's Frozen Yogurt LLC. The acquisition of all intellectual property and worldwide franchise and license rights includes the rights associated with 11 currently operating Josie's Frozen Yogurt stores. The stores are located in Arizona, Indiana, Nevada, Ohio, Texas, South Carolina and Virginia. While financial terms of the transaction were not disclosed, Josie's will be entitled to an earn-out if certain milestones are achieved, according to a company press release.

"The completion of this acquisition increases the size of U-Swirl's store base by 14 percent, to a total of 90 units in 25 states," said Rico Conte, CEO of U-Swirl, majority-owned by Rocky Mountain Chocolate Factory. "We are delighted to have the opportunity to work and share best practices with another budding frozen yogurt brand. Josie's store management team includes many well-seasoned franchisees, several of which have experience at nationally recognized franchise organizations such as Subway and Panhandlers' Pizza. Our immediate goals are to identify the potential for increased savings, offer enhanced support services and execute on cost-reduction strategies throughout the Josie's franchise network."

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