• Friendly's shareholders approve merger

    Friendly Ice Cream Corp's stockholders have approved the merger of Friendly's with Freeze Operations Inc, an affiliate of Sun Capital Partners Inc. Based
    Sept. 1, 2007

    Friendly Ice Cream Corp's stockholders have approved the merger of Friendly's with Freeze Operations Inc, an affiliate of Sun Capital Partners Inc. Based on preliminary results, of the 6,741,438 shares voted, approximately 98.5% were voted in favor of the merger.

    Under terms of the merger agreement, Friendly's stockholders will receive $15.50 in cash, without interest and less any applicable withholdings, for each share of Friendly's common stock issued and outstanding at the effective time of the merger (other than shares held in Friendly's treasury and shares held by any of the firm's wholly owned subsidiaries).

    Sun Capital Partners is a private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies.

    Friendly's is a vertically integrated restaurant company serving signature sandwiches, entrees, and ice cream desserts in 515 company and franchised restaurants throughout the Northeast. The company also manufactures ice cream, which is distributed through more than 4,000 supermarkets and other retail locations.

    Voice your opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!

    Sign up for our free eNewsletters

    Latest from Refrigerated Transporter

    Lineage
    lineage_port_of_seattle_facility
    The company’s Garfield location now is its first certified customs-bonded cold storage warehouse in Washington, helping customers navigate the complexity of global trade.
    Sunswap
    English food retailer Tesco recently deployed five Sunswap Endurance electric transport refrigeration units.
    Sunswap’s zer0-emission transport refrigeration units with batteries and roof-mounted solar panels are expected to help Tesco meet its sustainability goals.
    Americold
    americold_nb_port_groundbreaking
    Innovative new cold storage facility with martime and rail capabilities in New Brunswick, Canada, will be the operator’s sixth Canadian location when it opens in 2026.