Business
U-Swirl, Inc. Acquires Let's Yo! Yogurt, Expanding Company's Reach Into Northeastern U.S.
U-Swirl, Inc. Acquires Let's Yo! Yogurt, Expanding Company's Reach Into Northeastern U.S..
About this update from U-swirl Inc
[{"type":"text","content":"\n \n \n U-Swirl, Inc. Acquires Let's Yo! Yogurt, Expanding Company's Reach Into Northeastern U.S.\n \n \nU-Swirl, Inc. Acquires Let's Yo! Yogurt, Expanding Company's Reach Into Northeastern U.S.\n \n DURANGO, CO--(Marketwired - Apr 30, 2015) - U-Swirl, Inc. (OTCQB: SWRL) today announced that its wholly-owned subsidiary, U-SWIRL International, which operates and franchises self-serve frozen yogurt cafés, has acquired the business assets of Let's Yo!, LLC. The acquisition of all intellectual property and worldwide franchise and license rights includes the rights associated with 12 currently operating Let's Yo! Yogurt stores in New Jersey, Pennsylvania, Massachusetts, and Florida. While financial terms of the transaction were not disclosed, Let's Yo! will be entitled to an earn-out based on the royalties received over a 24-month earn out period.\n Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) owns a controlling interest in U-Swirl, Inc.\n \"The completion of this acquisition increases the size of U-Swirl's store base to a total of 259 units in 37 states and 4 foreign countries, and allows us to expand into the highly populated northeastern region of the United States,\" noted Alan Stribling, President of U-Swirl, Inc.\n \"We are pleased to welcome Let's Yo! to the U-Swirl family of frozen yogurt brands as we continue to expand our competitive footprint within the $6 billion away-from-home frozen desserts market. U-Swirl has experienced dramatic growth during the past 27 months and currently ranks as the fourth-largest self-serve frozen yogurt chain in the industry. The number of cafés in its network has increased 375 percent since January 2013, largely due to the acquisition of 8 self-serve frozen yogurt franchising companies.\"\n \"The self-serve frozen yogurt market is extremely fragmented, and we believe consolidation is necessary for the future success of the industry. U-Swirl intends to play an important role in this process as we pursue economies of scale through both organic growth and an aggressive acquisition program. In addition to our recent acquisitions of frozen yogurt chains, we are pursuing new store openings by franchisees under the U-Swirl, CherryBerry, Yogurtini, Let's Yo! and Fuzzy Peach brands. We expect 20 to 30 store openings under our current brands during Fiscal 2016,\" concluded Stribling...