LLCP acquires chocolate, ice cream and sweets franchise Kilwins

• Founded in 1947, Kilwins currently operates over 150 locations across 25 states, the majority of which are franchised operations
• Kilwins was advised by BDO Capital Advisors, LLC and Varnum LLP
• Levine Leichtman Capital Partners targets various sectors such as franchising & multi-unit, business services and education

Levine Leichtman Capital Partners has acquired Petoskey, Michigan-based Kilwins, a provider of chocolate, ice cream and confectionary products. No financial terms were disclosed.

Robin and Don McCarty, the majority owners of Kilwins since 1995, will retain an ownership interest.

Founded in 1947, Kilwins currently operates over 150 locations across 25 states, the majority of which are franchised operations.

Andrew Schwartz, a partner at LLCP, said in a statement, “Kilwins has an incredible brand proposition, a compelling product portfolio, and a loyal customer base. We are strong believers in the long-term potential of Kilwins and are excited to work closely with the Company’s management team to accelerate growth through continued franchise expansion, new channel opportunities, and additional product innovation.”

LLCP’s food-related investments include Tropical Smoothie Cafe, Nothing Bundt Cakes, Mountain Mike’s Pizza, Wetzel’s Pretzels, and Global Franchise Group.

Honigman LLP and Greenberg Traurig, LLP served as legal counsel to LLCP on the transaction.

Kilwins was advised by BDO Capital Advisors, LLC and Varnum LLP.

Levine Leichtman Capital Partners targets various sectors such as franchising & multi-unit, business services and education.

Currently, LLCP manages $8.6 billion of assets. The firm has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.