Friendly's

{{More citations needed section|date=January 2018}}

Friendly's was founded in 1935, at the height of the Great Depression, by brothers Prestley and Curtis Blake in Springfield, Massachusetts. The Blake brothers opened a small ice cream shop named "Friendly", selling double-dip cones for a nickel each. In 1940, a second Friendly in West Springfield was opened with an expanded food menu. During World War II, the Blakes closed the business until the war's end.{{cite news|url=http://findarticles.com/p/articles/mi_gx5202/is_2001/ai_n19123044|work=International Directory of Company Histories|title=Friendly Ice Cream Corporation|first=Frank|last=Uhle|year=2001}}

By 1951, 10 Friendlys were operating in Connecticut and western Massachusetts. The expansion of the company led to the move of headquarters from Springfield to Wilbraham in 1960. By 1974 the chain had grown to 500 restaurants in the Mid-Atlantic, Northeast, and Midwest. That year, a food processing and distribution plant opened in Troy, Ohio.

File:Friendly's in Unionville, Connecticut.jpg, in March 2008 (closed in December 2014)]]

In 1979, the Blake brothers retired and sold Friendly to Hershey Foods Corporation, which operated the chain as a wholly owned subsidiary. In 1988, Donald N. Smith purchased Friendly from the Hershey corporation, with Friendly becoming part of Tennessee Foods. In 1989, Smith added the 's to Friendly, making its colloquial name official.

File:FriendlysMap2.png

In 1997, Friendly Ice Cream Corporation debuted on the NASDAQ stock exchange under the symbol FRND. The stock began at $18 per share, peaking at $26.{{citation needed|date=October 2022}} Around then, 34 stores were sold to DavCo Restaurants, which planned 100 openings in the next 10 years.{{cite web |last1=Berselli |first1=Beth |title=DAVCO BUYS 34 FRIENDLY'S IN AREA |url=https://www.washingtonpost.com/archive/business/1997/07/14/davco-buys-34-friendlys-in-area/3904c67b-1557-414d-afd8-5cd3b534b0fa/ |website=washingtonpost.com |publisher=WP, LLC. |access-date=8 October 2023}} Despite DavCo's efforts, Friendly's stock price fell to $5.{{citation needed|date=October 2022}}

Also in 1997, Friendly's exited the Pittsburgh market after an unsuccessful few-year stint, closing all six restaurants, which were sold and converted to Bob Evans by the spring of 1998.{{citation needed|date=October 2022}}

In 1998, Kim Andereck was brought in as vice president of franchise development and became instrumental in creating an aggressive franchise program for the chain, which had been company-owned. By 2021, about 66% of its restaurants are franchise-owned.{{cite web |last1=Evergreen |first1=Callie |title=Amici Finalizes Acquisition of Friendly's, Plans to 'Reinvigorate' 130-unit Brand |url=https://www.franchisetimes.com/franchise_mergers_and_acquisitions/amici-finalizes-acquisition-of-friendlys-plans-to-reinvigorate-130-unit-brand/article_44c780d0-5c13-11eb-ba36-8b994fdd20c8.html |website=franchisetimes.com |date=January 21, 2021 |access-date=8 October 2023}} In summer 2000, Friendly's switched to the American Stock Exchange; symbol FRN. In June 2007, Friendly's appointed president and CEO George Condos; that summer it was bought for $337 million by the private investment firm Sun Capital Partners, Inc.{{cite news|url=http://www.boston.com/news/local/massachusetts/articles/2007/08/30/shareholders_approve_friendly_sale/|title=Shareholders approve Friendly sale |website=Boston.com|date=August 30, 2007}} {{Dead link|date=March 2016}} In December 2008, Ned R. Lidvall was appointed president and CEO.

On August 5, 2009, the first Friendly's Express opened in Mansfield, Massachusetts, with three in 2010: April 28 at Coolidge Corner in Brookline, July 7 in Wareham, and September 28 in Methuen.{{cite web |title=Methuen, Mass. Gets Fast and Friendly with New Friendly's Express |url=https://www.friendlysrestaurants.com/methuen-mass-gets-fast-and-friendly-with-new-friendlys-express/ |website=friendlysresturants.com |date=September 21, 2010 |publisher=Amici Partners Group, LLC. |access-date=8 October 2023}}

On February 10, 2012, Harsha V. Agadi stepped down as chief executive officer. Agadi invested his own money in the company and remains on the board of directors.{{cite news|last=Abelson|first=Jenn|date=9 February 2012|title=Friendly's CEO stepping down|website=Boston.com|url=https://www.boston.com/uncategorized/noprimarytagmatch/2012/02/09/friendlys-ceo-stepping-down|access-date=13 February 2021}}

On April 12, 2012, Friendly's announced that John M. Maguire had been named chief executive officer of the company.

On November 25, 2014, it was announced that all 14 of the Friendly's locations in Ohio would be closed.{{cite news |last=Byrd |first=Katie |date=November 26, 2014 |title=Friendly's ice cream chain melts away in Ohio, closing all locations |work=Akron Beacon Journal |url=https://www.beaconjournal.com/story/news/local/2014/11/26/friendly-s-ice-cream-chain/10650964007/ |access-date=April 1, 2023}}

On June 20, 2016, Dean Foods announced the acquisition of Friendly's Ice Cream for $155 million. This did not change the ownership of the restaurants, as Sun Capital Partners continues to run the currently existing locations.{{cite web|url=http://www.deanfoods.com/our-company/news-room/press-release.aspx?StoryID=2178846|title=Dean Foods - Press Release|website=www.deanfoods.com|access-date=July 24, 2016|archive-date=August 19, 2016|archive-url=https://web.archive.org/web/20160819030434/http://www.deanfoods.com/our-company/news-room/press-release.aspx?StoryID=2178846|url-status=dead}}[http://www.masslive.com/business-news/index.ssf/2016/05/friendlys_sells_retail_ice_cream_and_man.html Friendly's sells retail ice cream and manufacturing, new owner promises to keep Wilbraham factory] Jim Kinney, Masslive.com, May 10, 2016

In early 2018, Friendly's opened a new "prototype" restaurant at the Apex Center in Marlborough, Massachusetts, to test delivery, catering, online ordering and a revised menu.{{cite web|url=https://www.masslive.com/business/2019/04/friendlys-of-the-future-chain-touts-delivery-catering-throwback-menu-in-latest-rebranding-effort-photos-video.html |title=Friendly's of the future: Chain touts delivery, catering, throwback menu in latest rebranding effort |publisher=MASS LIVE |date=April 5, 2019 |access-date=August 22, 2019}}

Friendly's abruptly closed most of their locations in upstate New York on April 7, 2019.{{Cite news|last=Doran|first=Elizabeth|date=April 8, 2019|title=Several Syracuse-area Friendly's restaurants close abruptly|work=The Post-Standard|url=https://www.syracuse.com/business/2019/04/several-syracuse-area-friendlys-restaurants-close-abruptly.html|access-date=April 8, 2019}} Several locations in New England were also among the closures.{{cite web|url=https://www.sentinelsource.com/news/local/friendly-s-closes-keene-eatery/article_92449400-be84-5750-8bda-ffb43a0b2399.html|title=Friendly's closes Keene eatery|work=The Sentinel-Source|date=April 8, 2019|access-date=April 8, 2019}}

Co-founder Curtis Blake died on May 24, 2019, at the age of 102.{{Cite news|last=|first=|date=26 May 2019|title=Friendly's Ice Cream cofounder Curtis L. Blake dies at 102|work=Boston.com|url=https://www.boston.com/food/obituaries/2019/05/26/friendlys-ice-cream-cofounder-curtis-l-blake-dies-at-102|access-date=13 February 2021}}

On August 19, 2019, Friendly's closed its North Providence location, its last in Rhode Island.

In early October 2019, the last remaining restaurant in Virginia closed.{{cite web |last1=McDowell |first1=Erin |title=The Rise and Fall of Friendly's |url=https://www.businessinsider.com/friendlys-timeline-history-2020-11#now-friendlys-has-filed-another-chapter-11-bankruptcy-claim-amid-the-coronavirus-pandemic-and-a-shrinking-customer-base-11 |website=businessinsider.com |publisher=Insider |access-date=8 October 2023}}

Friendly's closed its Brattleboro, Vermont location in 2024.

Co-founder S. Prestley Blake died on February 11, 2021, at the age of 106.{{cite web |title=Friendly's Co-Founder S. Prestley Blake Dies At 106 |url=https://patch.com/connecticut/ellington-somers/friendlys-co-founder-s-prestley-blake-dies-106 |website=Ellington-Somers, CT Patch |access-date=12 February 2021 |language=en |date=12 February 2021}}

A casualty of a tough economic environment, rising commodity costs, and changing customer tastes, Friendly's announced it had filed for chapter 11 bankruptcy protection and closed 63 stores in October 2011.{{cite news|last1=Abelson|first1=Jenn|last2=Reidy|first2=Chris|date=5 October 2011|title=Friendly's closes 63 stores as ice cream chain files for bankruptcy|website=Boston.com|url=https://www.boston.com/uncategorized/noprimarytagmatch/2011/10/05/friendlys-closes-63-stores-as-ice-cream-chain-files-for-bankruptcy|access-date=13 February 2021}}{{cite news |url=https://www.wsj.com/articles/SB10001424052970203388804576612531340661442|title=Friendly's Files for Chapter 11 Bankruptcy |first1=Mia |last1=Lamar |first2=Jacqueline |last2=Palank |work=The Wall Street Journal|date=October 6, 2011|access-date=May 16, 2012}} The company had secured more than $71 million in debtor-in-possession financing to keep it afloat during bankruptcy proceedings. Later that month, the Pension Benefit Guaranty Corporation, a federal agency responsible for protecting workers' pension benefits, accused Sun Capital of illegally moving assets to keep control of the company. A few days later both parties were able to reach a settlement.{{cite news|last=Abelson|first=Jenn|date=15 December 2011|title=Pension agency settles with Friendly's|website=Boston.com|url=https://www.boston.com/uncategorized/noprimarytagmatch/2011/12/15/pension-agency-settles-with-friendlys|access-date=13 February 2021}} On November 1, 2011, the US Bankruptcy Court gave Friendly's permission to sell the company at an auction on December 22, 2011.{{cite news|last=Bathon|first=Michael|date=November 2, 2011|title=Friendly's gets OK for asset auction|website=Boston.com|url=http://archive.boston.com/business/articles/2011/11/02/friendly_ice_cream_wins_court_approval_to_hold_asset_auction/?camp=pm|access-date=May 16, 2012}}

On December 21, Friendly Ice Cream Corp cancelled the auction after receiving no offers to compete with the $75 million offer made by an affiliate of its owner, Sun Capital Partners Inc.{{cite news |url=http://www.businessweek.com/news/2011-12-21/friendly-cancels-auction-as-no-bidders-challenge-sun-capital.html |title=Friendly Cancels Auction as No Bidders Challenge Sun Capital |first=Michael |last=Bathon |date=December 21, 2011 |access-date=May 16, 2012 |archive-url=https://web.archive.org/web/20120702160504/http://www.businessweek.com/news/2011-12-21/friendly-cancels-auction-as-no-bidders-challenge-sun-capital.html |archive-date=July 2, 2012 |url-status=dead }} Sun Capital paid about $75 million and retained ownership through its affiliate.{{cite news|last=Abelson|first=Jenn|date=December 22, 2011|title=Friendly Ice Cream cancels auction|website=Boston.com|url=https://www.bostonglobe.com/business/2011/12/22/bankrupt-friendly-ice-cream-cancels-auction/sNxofTxMSAHm60P9TctcXJ/story.html?camp=pm|access-date=May 16, 2012}} On January 9, 2012, Friendly's announced that it would emerge from bankruptcy protection, but close 37 more locations.{{cite news|last=Abelson|first=Jenn|date=9 January 2012|title=Friendly's Ice Cream out of bankruptcy, but closes another 37 stores, including 10 in Mass|website=Boston.com|url=https://www.boston.com/uncategorized/noprimarytagmatch/2012/01/09/friendlys-ice-cream-out-of-bankruptcy-but-closes-another-37-stores-including-10-in-mass|access-date=13 February 2021}}

On November 12, 2019, the grocery division of Friendly's, amongst all other associates of its parent company, Dean Foods, filed for Chapter 11 bankruptcy protection.{{Cite web|url=https://www.wcvb.com/article/friendlys-ice-cream-parent-owner-files-for-bankruptcy/29775489|title=Friendly's ice cream parent owner files for bankruptcy|date=2019-11-13|website=WCVB|language=en|access-date=2019-11-13 |quote='Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption,' said Eric Beringause, who recently joined Dean Foods as president and chief executive officer.}}{{Cite web|url=https://www.cnn.com/2019/11/12/business/dean-foods-bankruptcy/index.html|title=America's largest milk producer files for bankruptcy|author=Jordan Valinsky|website=CNN|date=November 12, 2019 |access-date=2022-11-26}}

On November 1, 2020, Friendly's announced that it would file for chapter 11 once more and sell "substantially all its assets" to Amici Partners—an affiliate of Brix Holdings—for $2 million, citing the impact of the COVID-19 pandemic in the United States. The company stated that "nearly all" of its locations would remain open, although some closures (including a location near Mystic Aquarium in Mystic, Connecticut) were announced.{{Cite web|last=Valinsky|first=Jordan|title=Friendly's files for bankruptcy and puts itself up for sale|url=https://www.cnn.com/2020/11/02/investing/friendlys-bankruptcy/index.html|access-date=2020-11-02|website=CNN Business|date=November 2, 2020 }}{{Cite web|last=Alexander Soule|date=2020-11-02|title=Friendly's to close at CT tourist magnet in bankruptcy sale|url=https://www.nhregister.com/business/article/Friendly-s-to-close-at-CT-tourist-magnet-in-15693464.php|access-date=2020-11-02|website=New Haven Register|language=en-US}}

On January 19, 2021, it was announced that Friendly's was acquired by Amici Partners Group, LLC, a group made of experienced restaurant investors and operators with national and international restaurant franchisor background. Amici has acquired 130 corporate-owned and franchised restaurant locations with plans to keep all locations open.{{cite press release |title=Amici Partners Group Acquires Friendly's Restaurants Amici Partners Group Acquires Friendly's Restaurants |url=https://www.prnewswire.com/news-releases/amici-partners-group-acquires-friendlys-restaurants-301210199.html |publisher=Cision PR Newswire |access-date=20 January 2021}}{{cite web |last1=Hollan |first1=Michael |title=Friendly's sale to restaurant group finalized |date=January 19, 2021 |url=https://www.foxbusiness.com/lifestyle/friendlys-sale-restaurant-group-finalized |publisher=Fox Business |access-date=20 January 2021}}

In 2003, Prestley Blake filed a lawsuit against Friendly Ice Cream Corporation and chairman Donald Smith in a derivative action to force the money back to the company which Blake claimed was improperly paid for use of a private jet. Blake accused Smith of using the jet for personal use and using the airplane lease to carry $3 million annually from the company into another restaurant chain he controlled.{{cite web|url=http://www.bluemaumau.org/friendlys_ice_cream|title=Friendly's Ice Cream|website=Blue MauMau franchise news for the franchisee|access-date=July 10, 2016|archive-url=https://web.archive.org/web/20160802215520/http://bluemaumau.org/friendlys_ice_cream|archive-date=August 2, 2016|url-status=usurped}}

{{More citations needed section|date=September 2017}}

• "You're in for a nice surprise" (1979–1982)
• "There's no place like home" (1985–1989)
• "Where ice cream makes the meal / I wanna go to Friendly's" (2008–2011){{Citation|last=SuperManga64|title=I wanna go to Friendlys|date=March 22, 2009|url=https://www.youtube.com/watch?v=QjPdGJDkcKQ |archive-url=https://ghostarchive.org/varchive/youtube/20211213/QjPdGJDkcKQ| archive-date=2021-12-13 |url-status=live|access-date=July 2, 2016}}{{cbignore}}
• "Oh, that looks good!" (2010–2011)
• "High 5, it's Friendly's!" (2011–2012)
• "Oh yeah!" (2012–2013)
• "Where ice cream makes the meal" (current)
• "Creating memories since 1935" (2015)
• "Life with extra sprinkles" (current)
• "Deliciously fun" (current)

{{Reflist|30em}}

{{Commons category}}

• {{Official website}}

{{Dean Foods}}

{{Sun Capital Partners}}

{{Fast-food chains of the United States}}

{{DEFAULTSORT:Friendly'S}}

Category:1935 establishments in Massachusetts

Category:Companies based in Hampden County, Massachusetts

Category:Companies that filed for Chapter 11 bankruptcy in 2011

Category:Companies that filed for Chapter 11 bankruptcy in 2019

Category:Companies that filed for Chapter 11 bankruptcy in 2020

Category:Economy of the Eastern United States

Category:Fast-food chains of the United States

Category:Fast-food hamburger restaurants

Category:Ice cream brands

Category:Ice cream parlors in the United States

Category:Regional restaurant chains in the United States

Category:Fast-food franchises

Category:Restaurants established in 1935

Category:Restaurants in Springfield, Massachusetts