New recipes

Rita’s Italian Ice signs franchise deal in India

Rita’s Italian Ice signs franchise deal in India


We are searching data for your request:

Forums and discussions:
Manuals and reference books:
Data from registers:
Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

Rita’s Italian Ice has awarded a master licensee agreement to a New Delhi-based multiconcept franchisee to open 50 Rita’s units in India over the next several years.

South Asian Food & Hospitality Pvt. Ltd., which also franchises Quiznos Subs, an Australian concept called Muffin Break, and domestic brands like Wagh Bakri Tea Company, will open its first Rita’s Italian Ice in New Delhi in the fourth quarter.

“India’s booming economy and growing market make the country an excellent strategic fit as Rita’s furthers its global reach,” said Jonathan Fornaci, Rita’s chief executive. “We are thrilled to partner with South Asian Food & Hospitality, who has more than a decade of hospitality and management experience in India, and a successful, well-established infrastructure.”

The frozen-treat chain also recently struck separate master licensee agreements for China and the Caribbean.

India has held particular appeal for several restaurant companies looking to enter emerging markets like Brazil, Russia, India and China, commonly referred to as the BRIC nations.

RELATED: India may top China as hottest restaurant growth market

Most recently, frozen-yogurt chain Pinkberry said it would open in Mumbai, India, this year in a franchise agreement with JSM Corp Pvt. Ltd., which also operates California Pizza Kitchen, Trader Vic’s and Hard Rock Café locations in India.

Earlier this year, Starbucks Coffee — whose chief executive Howard Schultz is a member of Pinkberry’s board — announced a partnership with India’s Tata Coffee Limited that would allow for expansion in that country.

Also late last year, Yum! Brands Inc. spun off its 175 Pizza Hut units and 100 KFC locations in India to form a separate operating division, Yum! Restaurants India, signaling the market’s potential to reach the strength of Yum’s other powerhouse international division, Yum! Restaurants China.

Trevose, Pa.-based Rita’s Italian Ice has more than 550 units in 18 U.S. states.

Contact Mark Brandau at [email protected]
Follow him on Twitter: @Mark_from_NRN


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Argosy Private Equity and MTN Capital Acquire Rita's Franchise Company

WAYNE, Pa. , Jan. 3, 2017 /PRNewswire/ -- Argosy Private Equity and MTN Capital today announced the acquisition of a controlling stake in Rita's Franchise Company, LLC based in Trevose, Pennsylvania ("Rita's") — the world's largest Italian Ice concept — from Falconhead Capital. As part of the agreement, Kirk Griswold , Founding Partner at Argosy Private Equity, will join Rita's board as Chairman and Jeff Moody will remain President and Chief Executive Officer. Financial terms of the transaction were not disclosed.

Rita's Italian Ice was founded in 1984 by former Philadelphia firefighter Bob Tumolo , who made and sold Italian Ice from his small porch window alongside his mother Elizabeth and brother John. Since, the brand has grown exponentially and today has more than 600 locations in 30 states, and 4 countries. The franchise company was recently recognized by Entrepreneur Magazine's "2016 Franchise 500" and Nation's Restaurant News "Consumer Picks 2016," and continues to aggressively expand across the U.S.

"Being Philly based, we know firsthand the love that guests have for Rita's," said Griswold. "Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We're looking forward to working with Rita's management team and devoted franchise partners to continue the company's growth and extend its guest loyalty and unique brand equity to each and every store, systemwide."


Watch the video: Only True Fans Can Complete This Harry Potter Quiz (May 2022).