CenterOak completes sale of Wetzel’s Pretzels to MTY Franchising USA

The purchase price was $207 million.

  • North Point Mergers and Acquisitions served as financial advisor to Wetzel’s on the deal
  • Headquartered in Pasadena, California, Wetzel’s is the second largest U.S. franchisor and owner of quick service restaurants in the soft pretzel category
  • CenterOak acquired Wetzel’s in 2016

CenterOak Partners has closed its previously announced sale of franchise Wetzel’s Pretzels, to MTY Franchising USA, Inc., a subsidiary of MTY Food Group Inc. The purchase price was $207 million.

Headquartered in Pasadena, California, Wetzel’s is the second largest U.S. franchisor and owner of quick service restaurants operating in the soft pretzel category. CenterOak acquired Wetzel’s in 2016.

“We are pleased to see the successful culmination of our investment in Wetzel’s,” said Randall Fojtasek, CEO and co-managing partner of CenterOak in a statement. “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 financial advisor to Wetzel’s in connection with the transaction. Gibson, Dunn & Crutcher LLP served as legal counsel to the Company.

Wetzel’s Pretzels was founded in 1994.

CenterOak invests in middle market companies. Since its inception, CenterOak has managed over $2.4 billion of equity capital commitments and have completed more than 100 transactions.