Friendly's Sells Ice Cream-Making Business To Texas Company

WILBRAHAM (CBS) – A Texas food company has scooped up the retail and manufacturing side of Friendly's Ice Cream.

It was announced Monday that Dallas-based Dean Foods Company paid $155 million in cash to produce and sell Friendly's Ice Cream in stores and restaurants.

Dean Foods says the ice cream will still be made in the Wilbraham facility that has churned out Friendly's ice cream and frozen desserts, like cakes and rolls, for 45 years.

"Today marks a new chapter for Friendly's retail and manufacturing ice cream business," Friendly's CEO John Maguire said in a statement. "Dean Foods Company has recognized the growth momentum that Friendly's retail ice cream has experienced over the last five years and I am thrilled that Dean Foods will be the ongoing steward of the retail ice cream business, led by the current experienced retail and creamery teams."

Friendly's 260 restaurants are still owned by an affiliate of investment firm Sun Capital Partners.