Friendly's Largest Franchisee Hires Strategic Advisor, Mastodon Ventures, Inc.
March 12 2007 - 7:00AM
Business Wire
Kessler Family, LLC, the largest franchisee of Friendly Ice Cream
Corporation (AMEX:FRN), today announced that it has retained
Mastodon Ventures, Inc. as its advisor to explore strategic
alternatives, including the acquisition of some or all of the
assets of Friendly Ice Cream Corporation should such assets be
offered for sale. About Kessler Family, LLC Kessler Family, LLC is
Friendly Ice Cream Corporation�s largest franchisee. Kessler
Family, LLC owns and operates 46 restaurants representing twenty
percent of the total number of Friendly�s franchised restaurants.
Kessler was founded by brothers, Laurence and Dennis Kessler. The
Kessler restaurants are located in upstate New York. About Mastodon
Ventures, Inc. Mastodon Ventures, Inc. is a middle market M&A
advisory firm located in Austin, Texas. Mastodon�s restaurant,
food, and franchise practice closed several transactions during the
second half of 2006, including representing Acon Investments, LLC
as buy-side advisor on its purchase of Peter Piper Pizza,
representing the Nath Companies as sell-side advisor for the sale
of 88 Burger King restaurants, and acting as the strategic advisor
to South Pacific Partners, Ltd. on its raise of capital in support
of opening Hooters restaurant franchises in Australia and New
Zealand.
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