MTY purchase of Wetzel’s Pretzels from CenterOak finalized

$207M sale of Wetzel’s by CenterOak ends portfolio investment of eight years

The MTY Food Group purchase of Wetzel’s Pretzels through its MTY Franchising USA subsidiary has been completed. CenterOak’s sale to MTY was finalized in the amount of $207M.

Wetzel’s Pretzels has become the second largest domestic franchisor and operator of pretzel QSRs. CenterOak’s sale to MTY ends the financial relationship between the Dallas-based private equity firm and the Pasadena, Calif.-based pretzel franchise. CenterOak acquired Wetzel’s back in 2016.

“We are pleased to see the successful culmination of our investment in Wetzel’s,” said Randall Fojtasek, chief executive and co-managing partner of CenterOak. “During the investment period, we accelerated the Company’s growth by adding new real estate formats, product offerings and services to attract additional consumers to the concept. We look forward to the continued success of the Wetzel’s brand under new ownership.”

North Point Mergers and Acquisitions served as the exclusive financial advisor to Wetzel’s concerning the transaction. Gibson, Dunn & Crutcher LLP served as legal counsel to the Company.

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