Firms Purchase Rita’s Franchise Company

January 3, 2017

Exclusive Brief: 

Argosy Private Equity and MTN Capital announced Tuesday the acquisition of a controlling stake in Rita’s Franchise Company, LLC based in Trevose, Pennsylvania (“Rita’s”) the world’s largest Italian Ice concept from Falconhead Capital. As part of the agreement, Kirk Griswold, founding partner at Argosy Private Equity, will join Rita’s board as chairman and Jeff Moody will remain president and chief executive officer. Financial terms of the transaction were not disclosed.