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Maple Park Capital Partners has made a “majority growth investment” in Rita’s Italian Ice & Frozen Custard, aiming to accelerate the ice cream chain’s growth.
You are viewing: Maple Park makes “majority growth investment” in Rita’s
Maple Park Capital is an investment company with offices in Dallas, and New York. It focuses on investing in service-based businesses.
Rita’s, founded in 1984 and based in Trevose, Pennsylvania, claims to have grown as the “largest Italian ice concept in the world” with more than 575 locations across 30 US states and international markets.
Rita’s CEO Linda Chadwick said: “We are eager to partner with Maple Park given the firm’s experience in scaling businesses.
“This investment marks an exciting milestone in Rita’s journey and positions us well for continued strong growth and expansion with our franchise partners.”
Maple Park Co-Founder and Managing Partner Andrew Lauck said: “Rita’s is an iconic brand with a distinct portfolio of high-quality desserts and treats and an impressive 40-year history.
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“We are excited to partner with Linda and her team as we embark on the next chapter together to scale the business.”
In May 2024, Rita’s Italian Ice & Frozen Custard introduced Rita’s Kool-Aid Tropical Punch Italian Ice.
The menu was launched is a partnership with Kraft Heinz to offer customers a sweet fusion of tropical fruit flavours.
Prior to that in March 2024, the ice cream chain signed a multi-unit agreement to establish new locations in Austin, Texas.
The expansion is being spearheaded by Salvator Raccuglia, an entrepreneur from Redding, Pennsylvania.
Rita’s Italian Ice is freshly made on-site every day, offered in a rotating selection of over 80 flavours.
Its menu features creamy Frozen Custard, Concretes, Frozen Coffee, Milkshakes, Rita’s Blenders, signature Gelati, and more.
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Source: https://magnacumlaude.store
Category: News