Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives

Canada’s MTY signs deal to acquire sweetFrog assets

foodprocessing-technology 2018-09-06
Share       

Canada-based MTY Food Group’s wholly owned subsidiary has entered an agreement to acquire a majority of the assets of sweetFrog Premium Frozen Yoghurt franchise system (sweetFrog) for around $35m.

Established in 2009, US-based sweetFrog offers a wide range of frozen yoghurt flavours and fresh toppings choices to its customers.

MTY US operations chief operating officer Jeff Smit said: “sweetFrog is an exciting brand serving premium quality frozen yoghurt and will fit perfectly within our portfolio of brands. We are extremely happy about everything this brand has to offer and the growth potential ahead.”

sweetFrog currently operates 254 franchised locations and 78 corporate-owned locations.

As per the terms of the agreement, the locations will convert to franchised locations under current ownership.

“MTY is the perfect organisation to lead sweetFrog during its next chapter of success.”

sweetFrog Enterprises chairman and CEO Patrick Galleher said: “With an executive of Jeff Smit’s calibre-leading US operations, MTY is the perfect organisation to lead sweetFrog during its next chapter of success.”

With the acquisition of sweetFrog, MTY intends to strengthen its position in the frozen treat segment and further expand its footprint in the US market.

Upon completion of the deal, the company plans to combine operations and run the franchising platform from its US headquarters located in Scottsdale, Arizona.

MTY plans to fund the acquisition using available cash on hand and the existing credit facilities.

The transaction is expected to be completed over the next 30 days, subject to multiple conditions customary for a transaction of this nature.

 -------------------------------------------------------------------------------------------------------------------------------

Editors Note:

To apply for becoming a contributor of EN-SJGLE.com,

welcome to send your CV and sample works to us,

Email: Julia.Zhang@ubmsinoexpo.com.

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

Recommended Products

MONOCALCIUM  PHOSPHATE

MONOCALCIUM PHOSPHATE

Vitamin D2 powder 500cws

Vitamin D2 powder 500cws

Iota Refined

Iota Refined

Potassium sulfate

Potassium sulfate

Top

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121