| Type | Private |
|---|---|
| Founded | Springfield, Massachusetts (1935)[1] |
| Headquarters | Wilbraham, Massachusetts, United States |
| Key people | Harsha V. Agadi, Chairman & CEO[2] |
| Products | Sandwiches, burgers, salads, soups, breakfast foods, ice cream |
| Parent | Sun Capital Partners |
| Website | friendlys.com |
Friendly Ice Cream Corporation is the owner and operator of the Friendly's restaurant chain on the United States' East Coast. Founded in 1935 in Springfield, Massachusetts by brothers Curtis Blake (then 18) and S. Prestley Blake, 20, their first shop served double-dip cones for 5 cents. Many Friendly's have an old-fashioned street clock at their entrance with the town's name, although not on newer or renovated stores. Friendly's has 16,000 employees; Harsha Agadi is the president and CEO.[3]
A total of 505 Friendly's restaurants are found in 16 U.S. states: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Vermont and Virginia.
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Friendly’s was founded in 1935, at the height of the Great Depression by brothers Prestley and Curtis Blake in Springfield. The Blakes opened a modest ice cream shoppe, selling double-dip cones for 5 cents. The brothers named the business "Friendly". In 1940, a second Friendly was opened, in West Springfield; hamburgers were added to the menu. During World War II, the Blakes closed the business until the war's end.[4] In 1951, 10 Friendly's 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 and Northeast. That year, a food processing and distribution plant opened in Troy, Ohio.
In 1979, the brothers retired, selling Friendly to Hershey Foods Corporation, which operated the chain as a wholly owned subsidiary. Friendly began facing misfortunes in the mid-1980s. 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.
In 1997, Friendly's Ice Cream Corporation debuted on NASDAQ stock exchange under the symbol FRND. The stock began at $18 per share, peaking at $26. Around then, 34 stores were sold to DavCo Restaurants, which planned 100 openings in the next 10 years. Despite DavCo's efforts, Friendly's stock price fell to $5.
In 1998, Kim Andereck was brought in as Vice President of Fanchise Development and became instrumental in creating an aggressive franchise program for the chain, which had been company-owned. Now, about 50% of its restaurants are franchise-owned. 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.[5] In December 2008, Ned R. Lidvall was appointed President and CEO. Friendly’s opened its first concept store in Framingham, Massachusetts, introducing a radically different look than existing stores. In 2010 Friendly's began a sponsorship deal with folk artist Warren Kimble, featuring works such as "Cat in tin" "Claire" and "Cliff".
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.
In 2003, Prestley 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 it 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.[6]
According to the Marler Clark Attorney Network, "in June of 2004, a food worker at a Friendly’s restaurant in Arlington, Massachusetts was diagnosed with hepatitis A, a virus that can cause acute liver failure. Health officials estimated that more than 3,800 people were at risk for developing hepatitis A infection after dining at the restaurant. In mid-June, more than 3,000 people exposed to the hepatitis A virus at Friendly's lined up at an area clinic to receive immune globulin ("Ig") shots to prevent hepatitis A infection. When administered within 14 days of exposure to the virus, Ig is effective in preventing – or at least reducing the symptoms of – hepatitis A infection. Many of the people who lined up for shots were initially turned away and due to a lack of Ig and had to return later. Marler Clark filed a class action lawsuit on behalf of hundreds of customers and employees of the Friendly’s restaurant who were exposed to the hepatitis A virus. Friendly’s and Marler Clark resolved the case in 2005."[7]
On September 29, 2011, Reuters claimed, but Friendly's did not confirm, that it was filing for Chapter 11 bankruptcy protection, then would seek an auction to sell itself out of bankruptcy.[8] Six days later, Friendly's confirmed it would seek Chapter 11 bankruptcy, and that it had closed 63 stores.[9][10]
Friendly's is best known for its ice cream. It serves a variety of sundaes, including one shaped as a clown with Reese's Pieces for eyes. Friendly's ice cream dessert options include: root beer floats, Fribble shakes, Friend-Z, and sundaes. A Fribble is a thick shake, originally made with iced milk, now made with soft serve ice cream. A Friend-Z is soft serve ice cream with a topping. Friendly's take-home options include: Sundaes-to-Go, ice cream rolls, cartons of ice cream, and ice cream cakes.[11]
Friendly's also offers breakfast, lunch and dinner items, such as hamburgers, french fries, wraps and sandwiches. Unlike chains Denny's and IHOP, breakfast items at Friendly's are available mornings only; lunch and dinner are available later.
Friendly's manufactures and sells packaged premium ice cream distributed in over 4,000 supermarkets (and other stores).[12]
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