Newport Beach, CA, June 13, 2015 --(PR.com
)-- National Franchise Sales (NFS) is pleased to announce completion of the sale of the Fosters Freeze franchise system. Fosters Freeze is an 82 unit fast food/ dairy concept boasting California's original soft serve desserts.
Fosters Freeze International, LLC, (Buyer) is led by Kishan Patel a multi-unit franchisee with a wealth of experience in an assortment of QSR and Casual Dining franchises restaurants.
Fosters Freeze, LLC (Seller) led by President and Stockholder Randy Fritchie was an integral part of the sale process due to his many years at the helm of this exciting and storied brand. His knowledge of the system and history of this brand is unparalleled.
The Fosters Freeze brand has enjoyed a stable and continuing cash flow throughout the course of its 65 years, and Mr. Patel's passion for excellence and focused strategy for growing businesses, promises to take Fosters Freeze to the next level.
"The team at NFS were available and professional every step of the way - I was especially appreciative of the way NFS acted to negotiate all the moving pieces in the final weeks. It was a pleasure to work with Michael Ingram and all at NFS," said Mr. Patel upon completion of the transaction.
Lender Opus Bank provided funding for this transaction. The specific terms of the sale of franchise ownership between Fosters Freeze LLC and Fosters Freeze International, LLC are confidential.
The National Franchise Sales team, led by Vice President, Michael Ingram was instrumental in bringing together the buyer and seller, facilitating the sale in all stages, including the sourcing of the acquisition debt and all steps leading to a successful consummation of sale.
For more information contact Michael Ingram at (949) 428-0482