Amici Partners Group, LLC — an investment group affiliated with BRIX Holdings franchising company, which owns Red Mango Yogurt Café Smoothie and Juice Bar and Souper Salad, among other franchises — has finalized the acquisition of Friendly’s Restaurants for an undisclosed amount. Former Friendly’s Restaurants owners, Sun Capital Partners, announced the bankruptcy asset sale in November after the company declared bankruptcy.
According to the announcement, the Amici Group plans to keep all 130 corporate-owned and franchised Friendly’s locations open.
"The investors of Amici Partners Group, LLC have been involved with the Friendly's Restaurant brand in many capacities over the years, not only as owners/operators and leaders in the system, but also as longtime loyal customers of this iconic brand," Craig Erlich, president and CEO of Amici Partners and its affiliated company BRIX Holdings, LLC said in a statement. "Based on our personal connection to the chain, strong investment capabilities, and seasoned management team, we believe we will be able to continue to reinvigorate this much-loved brand for both loyal patrons and new customers alike."
Under new ownership, Amici Group will focus on menu innovation like new ice cream flavors, elevating guest experience, and enhancing the Friendly’s app for online ordering/takeout/delivery and introducing a new loyalty program.
"Friendly's holds a special place in the hearts of its many loyal patrons, and we look forward to nurturing that legacy and creating new programs and menu items to meet the changing needs of our customers," Elrich continued.
In 2019, Friendly's generated sales of $212.3 million at all restaurants, down 14.4% compared to the previous year, while systemwide same-stores sales for the year were 0.2%.
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