When Fourteen Foods acquired 58 of 60 restaurants operated by franchisor International Dairy Queen, it not only nearly doubled its size, from 61 to 119 DQ locations, but it also underscored the company’s penchant for buying before building. Matt Frauenshuh is chief executive of Minneapolis-based Fourteen Foods, which also is doing business as Frauenshuh Hospitality Group. The company got its start with the Dairy Queen system in 2002 by opening one of the 4,500-plus-unit chain’s ...

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