Transaction to add a trendy brand, with rich Canadian heritage and strong U.S. and international growth potential, to the International Franchise Inc. umbrella of brands.
MARKHAM ON, November 1, 2018 – INTERNATIONAL FRANCHISING INC. (“IFI”) announced today that it has concluded a transaction to acquire Sweet Jesus (“SJ”).
The acquisition of SJ will add a successful, highly-regarded brand with a loyal customer base, to one of the largest global frozen dessert companies, with some of the world’s most iconic frozen dessert brands – Yogen Früz (www.yogenfruz.com); Pinkberry (www.pinkberryworld.com); Swensen’s Ice Cream (www.swensens.com); Yeh! Yogurt (yehyogurt.com); and Yogurty’s (www.yogurtys.com), with a combined total of over 1,400 units in over 47 countries.
Founded in Toronto, Ontario in 2015, SJ is a franchise concept and the market leader and disruptor in the specialty ice cream category. SJ has amassed an enormous social media following with its elaborate, culinary driven ice cream concoctions. Today SJ is one of the fastest growing ice cream concepts with 20 units in Canada, the U.S. and the Middle East, where it operates under the name “Sweet Salvation”.
Aaron Serruya, President of IFI said, “SJ is a powerful brand with a rich social media following that resonates especially with millennials. With this transaction, IFI is adding a brand that has a distinctive position within a compelling segment and strong U.S. and international prospects for growth. We look forward to taking an already very strong brand and accelerating its pace of growth and opening new units in Canada, the U.S., and around the world. As SJ becomes part of the IFI family, we believe we can deliver growth and opportunities for all of our stakeholders, including our valued employees and franchisees”.
Jeff Young, former Chief Development Officer of SJ and newly appointed President of SJ with IFI, said, “I am proud of the results the SJ team has achieved since its inception, by delighting guests with hand crafted, chef inspired pimped out soft serve treats. The Serruya Family are industry leaders in the frozen dessert category and have recognized the opportunity for exceptional unit growth in the future, particularly in the U.S. and around the world. The outlook of the SJ brand has never looked brighter and this transaction will deliver immediate and certain value to all SJ shareholders”.
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Jeff Young firstname.lastname@example.org 647.888.8420