SweetFrog Frozen Yogurt acquired five New York-based Hoopla Frozen Yogurt locations in Camillus, Middletown, New Hartford, Newburgh, and Poughkeepsie on April 24. The takeover represents the first of many acquisitions sweetFrog hopes to complete in 2018 as the brand remains committed to an aggressive acquisition and rebranding strategy.
SweetFrog’s CEO, Patrick Galleher, is excited to complete another successful acquisition. Frequently featured by Forbes’ Finance Council, Galleher is a finance and private equity expert who has led dozens of successful acquisitions as managing partner of Boxwood Partners, a merchant bank in Richmond, Virginia, including taking over sweetFrog in 2015.
Galleher says these Hoopla stores were an attractive investment for sweetFrog because it allows the franchise to expand its footprint in a region where the sweetFrog brand has established strong customer loyalty.
“It’s a win-win for all parties involved,” says Galleher. “Acquiring these existing locations in New York is a cost-efficient way for us to expand in an area where customers already love our brand and products. Plus, we have the benefit of maintaining the staff at each location where employees have built-in rapport and established relationships with local customers.”
SweetFrog has wasted no time taking over these five New York locations. Local customers can already enjoy their favorite sweetFrog flavors in those stores. Plus, there will be no down time or store closures for re-modeling updated because Hoopla and sweetFrog stores possess similar layout designs and real estate expectations. All five stores will be completely re-branded with new signage by end of May.
As soon as today, raving frozen yogurt fans in New York can find sweetFrog at all five of these former Hoopla locations:
With sweetFrog’s award-winning name behind its impressive menu of frozen treats, Galleher is confident this latest acquisition will fuel further regional growth for the frozen yogurt leader. sweetFrog is focused on completing additional acquisitions in Dallas-Fort Worth, Southeast Florida, and along the South Carolina coast, among other areas.
“This is a pivotal moment for sweetFrog’s future and we’re excited,” says Galleher. “We have no plans to slow down; we’re gaining momentum. With every new location, sweetFrog becomes even more of a household name. We’re 340 stores strong, and this is just the beginning.”
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