DALLAS & TREVOSE, Pa.--(BUSINESS WIRE)--Maple Park Capital Partners (“Maple Park”), a principal investment firm specializing in investing in experiential and consumer services businesses, today announced it has made a majority growth investment in Rita’s Italian Ice & Frozen Custard (“Rita’s” or the “Company”).
Founded in 1984 and headquartered in Trevose, PA, Rita's has grown to become the largest Italian Ice concept in the world with a franchise network spanning over 575 locations across 30 U.S. states, as well as international markets.
“We are eager to partner with Maple Park given the firm’s experience in scaling businesses,” said Linda Chadwick, CEO of Rita’s. “This investment marks an exciting milestone in Rita’s journey and positions us well for continued strong growth and expansion with our franchise partners.”
“We are excited to partner with the Rita’s team to provide growth capital and operational resources to support the Company on its continued growth plan,” said Alexander Blankfein, Co-Founder and Managing Partner at Maple Park.
“Rita’s is an iconic brand with a distinct portfolio of high-quality desserts and treats and an impressive 40-year history,” said Andrew Lauck, Co-Founder and Managing Partner at Maple Park. “We are excited to partner with Linda and her team as we embark on the next chapter together to scale the business.”
About Maple Park Capital
Maple Park Capital is a principal investment firm based in Dallas, TX and New York, NY. The firm specializes in investing in service-oriented businesses within the experiential economy. Maple Park partners with exceptional founders and management teams to accelerate growth and achieve long-term success for its stakeholders by leveraging its extensive industry relationships and proven value creation capabilities. Target sectors for investment include location-based entertainment, dining, travel and hospitality, as well as home and out-of-home services.
About Rita’s Italian Ice & Frozen Custard
Rita’s Italian Ice & Frozen Custard opened its doors in Bensalem, PA in 1984, and has been dedicated to spreading “Ice, Custard, Happiness!” ever since. Now, Rita’s is the largest Italian Ice concept in the world with over 575 shops. Guests around the world visit Rita’s to celebrate their everyday moments with freshly made cool treats in a fun-filled atmosphere. Known for its famous Italian Ice, made daily featuring real fruit, and signature Frozen Custard, Rita’s serves a taste of happiness with each delicious treat. For more information, please call 1-800-677-7482 or visit http://www.ritasice.com/.
