The wholly owned subsidiary of Montreal-based MTY Food Group Inc. will acquire SweetFrog Premium Frozen Yogurt’s franchise system.
A Canadian franchise group will acquire most of the franchise assets of SweetFrog for $35 million, according to an article in the Richmond Times-Dispatch.
Headquartered in Richmond, Virginia, SweetFrog is a frozen yogurt brand with 254 franchised locations and 78 corporate-owned locations, according to the article.
The franchise group making the acquisition is a subsidiary of MTY Food Group Inc., a Montreal-based franchisor whose brands include TCBY Frozen Yogurt, Blimpie and Cold Stone Creamery.
SweetFrog “is an exciting brand serving premium quality frozen yogurt and will fit perfectly within our portfolio of brands,” chief operating officer of MTY Food Group Inc. U.S. operations Jeff Smit said in a statement.