Wetzel’s Pretzels Announces Company Sale
Leading Dallas-Based Private Equity Group Acquires Majority Stake in Company
Pasadena, CA (RestaurantNews.com) Wetzel’s Pretzels, the innovator in the fresh-baked pretzel category, today announced that CenterOak Partners, a leading Dallas-based private equity group with significant consumer brand, business service and industrial sector holdings, has purchased a majority stake in the company. Wetzel’s CEO, Bill Phelps, will remain in his current role, with co-founder Rick Wetzel retaining a seat on the company’s board of directors.
The sale brings to a close Levine Leichtman Capital Partners’ investment into the brand, which took place in 2007. Levine Leichtman Capital Partners secured seven