Levine Leichtman Capital Partners (LLCP), a Los Angeles-based private equity firm, has partnered with management to complete the acquisition of Wetzel’s Pretzels, one of the leading franchisors in the freshly baked soft pretzel and pretzel based snack category.
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The acquisition of Wetzel’s Pretzels is LLCP’s third in the franchise sector. LLCP’s other franchise concept investments include the Quizno’s Corporation and CiCi’s Pizza.
According to Lauren Leichtman, LLCP Co-Founder and CEO: “Wetzel’s is an exceptionally well-managed company, led by its chief executive officer Bill Phelps and president Rick Wetzel, and is an excellent addition to our portfolio. It is a highly recognisable brand with superior quality, freshly made, differentiated product that people love. We are very excited to support Bill, Rick and the rest of the management team in the continued growth of the company.”
