Rita's Water IcePhoto: Rita's Water Ice
Like Tasty Kakes, whose maker, Tasty Baking Co., was bought by Georgia’s Flowers Foods earlier this year, you can now count Rita’s Water Ice as a hometown icon that’s no longer locally owned. Wall Street Journal reports that New York-based private equity firm Falconhead Capital yesterday acquired the controlling stake in the frozen treats franchise that was founded in the eighties by a former Philadelphia firefighter. Going forward, Falconhead Capital has big plans for Rita’s. The firm expects to take the mostly East Coast-based brand nationwide and into other countries. [WSJ]
