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On Tuesday, <a href="http://www.argosyprivateequity.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=restaurantnewscom-argosy-private-equity-and-mtn-capital-acquire-ritas-franchise-company-9020" target="_blank" rel="nofollow" target="_blank">Agrosy Private Equity</a> and <a href="http://www.mtncapital.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=restaurantnewscom-argosy-private-equity-and-mtn-capital-acquire-ritas-franchise-company-9020" target="_blank" rel="nofollow" target="_blank">MTN Capital</a> announced the acquisition of Italian ice concept <a href="https://www.ritasice.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=restaurantnewscom-argosy-private-equity-and-mtn-capital-acquire-ritas-franchise-company-9020" target="_blank" rel="nofollow" target="_blank">Rita&rsquo;s Franchise Company</a>. Kirk Griswold, Founding Partner at Argosy Private Equity, will join Rita&rsquo;s board as Chairman and Jeff Moody will remain President and Chief Executive Officer.

&ldquo;Being Philly based, we know firsthand the love that guests have for Rita&rsquo;s,&rdquo; said Griswold. &ldquo;Falconhead and the executive leadership team have done a tremendous job growing this once regional brand nationally, and even internationally. We&rsquo;re looking forward to working with Rita&rsquo;s management team and devoted franchise partners to continue the company&rsquo;s growth and extend its guest loyalty and unique brand equity to each and every store, systemwide.&rdquo;

Rita&rsquo;s Italian Ice, founded in 19841 by Bob Tumolo, has more than 600 locations in 30 states and four countries.

<a href="http://www.restaurantnews.com/argosy-private-equity-and-mtn-capital-acquire-ritas-franchise-company/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=restaurantnewscom-argosy-private-equity-and-mtn-capital-acquire-ritas-franchise-company-9020" target="_blank" rel="nofollow" target="_blank">Click here to read the full article.</a>

RestaurantNews.com: Argosy Private Equity and MTN Capital Acquire Rita’s Franchise Company

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Two private equity firms acquire controlling stakes in Rita’s Italian Ice.

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RestaurantNews.com: Argosy Private Equity and MTN Capital Acquire Rita’s Franchise Company

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