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Local News

July 30, 2013

Friendly's buys upstate New York franchises

The Friendly’s franchise on 377 Main St. in Oneonta, along with 34 others in upstate New York, has been acquired by the restaurant’s parent company.

Friendly’s Ice Cream, LLC announced the purchase Monday of 35 franchised restaurants in New York from the Kessler Family, LLC for an undisclosed amount.

“We’re happy that this initiative is allowing us to preserve the employment of over 1,300 Friendly’s employees in New York state,” said Friendly’s CEO John Maguire, in a statement released to the media. “As we look ahead to the future, we have every intention of maintaining the same level of commitment to these restaurants as the Kessler Family, LLC has had over the years.”

The purchase is scheduled to be finalized Wednesday, with Friendly’s assuming ownership the following day. No disruption of restaurant services is expected.

“The Kesslers had approached us some months ago,” said Maguire, speaking with The Daily Star.

Maguire said that the Kesslers had wanted to pursue other opportunities, and asked if Friendly’s was interested in purchasing their Friendly’s franchises, which Friendly’s indicated that they were.

“It was a reasonable price that worked for all parties concerned,” said Maguire, when asked for a purchase price for the 35 restaurants.

The eight other Friendly’s restaurants owned by the Kessler Family, LLC will be closing by the end of this week, in a move that Maguire said was done outside of the acquisition.

“On the Friendly’s side, we’re looking to place as many of those people as we can,” said Maguire, who added that the Kesslers were also looking to place some of the workers who will be laid off into their other restaurants.

Friendly’s hasn’t experienced an easy last few years, declaring Chapter 11 bankruptcy in 2011 and emerging from bankruptcy protection in 2012. This bankruptcy saw approximately 100 Friendly’s locations close.

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