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The company that operates Friendly’s restaurants is Friendly’s no more.
The Massachusetts-based casual-dining chain said on Monday that it has finalized a deal to sell its retail ice cream and manufacturing business to Dallas-based Dean Foods company for $155 million in cash.
As part of the deal, Dean Foods is acquiring the Friendly’s trademark along with any intellectual property associated with the ice cream business.
Scott Svenson, cofounder and CEO of MOD Pizza, and Ally Svenson, cofounder, received the EY Entrepreneur of the Year 2016 Award in the Emerging category for the Pacific Northwest. The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities. The Svensons were selected by an independent panel of judges, and the award was presented at the gala event in Seattle on June 17.Chains: MOD Pizza