BEVERLY HILLS Calif. Wetzel’s Pretzels LLC, franchisor of 190 namesake soft pretzel locations, has been acquired by Los Angeles private equity firm Levine Leichtman Capital Partners and members of Wetzel’s management, the buyers said Friday. Terms were not disclosed. Wetzel’s senior management team of chief executive Bill Phelps and president Rick Wetzel made a “significant investment” in the company and will continue to lead the brand, according to the statement. BB&T Capital ...

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