Harsha V. Agadi is so confident the 75-year-old Friendly Ice Cream Corp. still holds substantial growth opportunities, the new chairman and chief executive acquired a stake in the family-dining company from its private-equity owner upon his recent appointment of leadership. Agadi, who was named CEO of Friendly’s on Tuesday, stepped down last year as president and chief executive of Church’s Chicken, though he retains a stake in the Atlanta-based quick-service chain. Agadi ...

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