Friendly’s Parent Company Acquired by Multi-Unit Franchisee as More Owners Take the Lead in Brand Acquisitions

In a growing trend within the restaurant industry, franchisees are stepping up from operators to owners of entire brands. The latest move comes from Amol Kohli, a Friendly’s franchisee who owns more than 30 of the brand’s approximately 100 locations. Kohli, through his investment group Legacy Brands International, has acquired BRIX Holdings — the parent company of Friendly’s and several other concepts like Clean Juice, Red Mango and Souper Salad.

Brix CEO Sherif Mityas will remain in his role, while Kohli takes over as board chair, signaling a collaborative approach to leadership that blends operational know-how with strategic investment. BRIX plans to accelerate growth of Friendly’s in Georgia, the Carolinas and Texas, leaning into Kohli’s franchisee perspective to guide expansion.

"Friendly's has been a part of my life since I was 15,” Kohli said. “I started as a breakfast table waiter, which evolved into owning, managing, developing and overseeing several locations over the last 16 years. This was only made possible due to the everlasting support of my family, loyal team, partners and faith. I have been able to create something special for all to enjoy. I plan to take that to the next level in this new chapter of BRIX Holdings' ownership to grow the size, scale and infrastructure for all our franchise networks and systems."

This acquisition highlights a broader M&A trend where experienced franchisees are leveraging their deep operational knowledge and brand loyalty to take over and scale restaurant brands. Recent examples include Thrive Restaurant Group acquiring Modern Market Eatery, Sun Holdings adding Uncle Julio’s to its portfolio, and two franchisees purchasing a large share of Hooters amid its restructuring.

Read the original press release here. 

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