Friendly’s franchisee exploring purchase options

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ROCHESTER, N.Y. – Kessler Family LLC today announced it has hired an adviser to explore alternatives, including the acquisition of some or all assets of the Wilbraham, Mass.-based Friendly Ice Cream Corp. should they be offered for sale.

Friendly’s officials last week hinted they might consider takeover offers.

Kessler, founded in 1975 by brothers Laurence and Dennis Kessler, owns and operates 46 Friendly’s restaurants in upstate New York. Those restaurants comprise 20 percent of Friendly’s non-company-owned shops, making Kessler the company’s largest franchisee.

It has retained as its strategic adviser Mastodon Ventures Inc., a middle-market M&A firm based in Austin, Texas.

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Kessler Family LLC (www.kesslerrestaurants.com) owns and operates 21 Burger King and 46 Friendly’s restaurants, all in upstate New York.

Friendly Ice Cream Corp. (AMEX: FRN) has more than 520 company and franchised restaurants, and is the maker of Friendly’s ice cream, which is sold at more than 4,500 retail locations. Additional information is available at www.friendlys.com.

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