Most Rita’s franchises are closed for the season, but business is still being done.
Rita’s Water Ice Franchise Co. is now in the hands of the New York-based Falconhead Captial, the Business Journal reports. The change isn’t a huge one for Rita’s, as it had already been part of another investor group: McKnight Capital Partners.
McKnight principal Jim Rudolph will be the vice chairman under Falconhead’s oversight of Rita’s. The water ice franchise now has 550 locations in 18 states.