MONTREAL — MTY Food Group Inc. has closed its previously announced deal to acquire substantially all of the assets of the SweetFrog Premium Frozen Yogurt franchise system for approximately US$35 million.
At closing, SweetFrog operates 331 franchised/licensed restaurants, of which 323 are located in the United States and eight are located internationally. In the last 12 months, the brand generated more than US$92 million in system sales.
MTY has consolidated SweetFrog operations and is now running the franchising platform from its U.S. headquarters in Scottsdale, Ariz. under the leadership of Jeff Smit.
