Canadian group purchases Richmond-based sweetFrog for $35 million

Canadian group purchases Richmond-based sweetFrog for $35 million
sweetFrog got its start in the Richmond area. (Source: sweetFrog/Facebook)

RICHMOND, VA (WWBT) - Canadian-based restaurant franchisor and operator MTY Food Group will purchase the assets of the sweetFrog Premium Frozen Yogurt franchise for $35 million.

sweetFrog, named 2016's best frozen yogurt shop in the U.S. by the Daily Meal, was birthed in Richmond in 2009 and now operates 254 franchised locations and 78 corporate-owned locations globally.

MTY plans to strengthen its presence in the frozen treat category and in the U.S. by converting corporate-owned sweetFrog locations into franchised locations.

"We are extremely happy about everything this brand has to offer and the growth potential ahead," MTY US operations COO Jeff Smit told Verdict Food Service.

MTY will consolidate the operations and run the franchising platform from its U.S. headquarters in Scottsdale, Arizona, headed by Smit.

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