Reporting Anthony Silva
BOSTON (CBS) -The fastest growing chain of self-serve frozen yogurt shops in New England is not owned by a food or restaurant company.
Orange Leaf has opened 10 locations in Massachusetts, Rhode Island and New Hampshire over the past year, and plans to open 19 more in the next few months.
“This is the new version of your local ice cream parlor per se and it’s a little more hip,” CEO Reece Travis told WBZ NewsRadio 1030 New England Business Editor’s Anthony Silva.
Listen: WBZ NewsRadio 1030 New England Business Editor’s Anthony Silva reports
Travis said his investment group spotted the original Orange Leaf in San Francisco a few years ago. Travis describes the investors as a small little group of family and friends. He says they work predominantly in oil and gas and real estate, but they couldn’t pass up this opportunity.
Travis says Boston is one of Orange Leaf’s top three markets. He expects the company to expand to more than 700 locations within the next few years.
Competition is already heating up. Some imitators are already starting to emerge, offering self-serve frozen yogurt with multiple toppings.