An operator group that includes the parent company of Red Mango and Smoothie Factory has completed its acquisition of the Friendly’s Restaurant family dining chain.
The final price paid by Amici Partners Group was not disclosed. Earlier reports valued the purchase amount at just under $2 million, with the deal also calling for the assumption of $88 million in debt.
The buyers said they intend to keep all 130 surviving Friendly’s locations in operation. The chain filed for bankruptcy in November for the second time since 2011.
The purchase is the latest development in a rich and often