December 5, 2018
TORONTO – December 5, 2018. Sweet Jesus, the popular ice cream and dessert brand specializing in hand-crafted, chef-inspired, “pimped out” soft-serve ice cream creations, has been acquired by International Franchising Inc., an affiliate of Serruya Private Equity, one of the largest global frozen dessert companies with several of the world’s most iconic frozen dessert brands, including Yogen Früz®; Pinkberry® and Swensen’s® Ice Cream (www.swensens.com), with a combined total of over 1,400 units in over 47 countries.
Sweet Jesus was founded in Toronto in 2015 by restaurant group Monarch & Misfits and is now one of the fastest-growing ice cream concepts with 20 locations in Canada, the US and in the Middle East. Capital Canada Limited acted as financial advisor to Sweet Jesus.
Aaron Serruya, CEO of International Franchising Inc., said, “Sweet Jesus is a powerful brand with a rich social media following that resonates especially with millennials. With this transaction, International Franchising Inc. is adding a brand that has a distinctive position within a compelling segment and strong U.S. and international prospects for growth. We look forward to taking an already very strong brand and accelerating its pace of growth and opening new units in Canada, the U.S., and around the world. As Sweet Jesus becomes part of the International Franchising Inc. family, we believe we can deliver growth and opportunities for all of our stakeholders, including our valued employees and franchisees.”
Jeff Young, former Chief Development Officer of Sweet Jesus and newly appointed President of Sweet Jesus, with International Franchising Inc., said, “I am proud of the results the Sweet Jesus team has achieved since its inception, by delighting guests with hand crafted, chef inspired pimped out soft serve treats. The Serruya Family are industry leaders in the frozen dessert category and have recognized the opportunity for exceptional unit growth in the future, particularly in the U.S. and around the world. The outlook of the Sweet Jesus brand has never looked brighter and this transaction will deliver immediate and certain value to all Sweet Jesus shareholders.”
About Capital Canada Limited
Established in 1975, Capital Canada Limited is a mid-market independent investment banking firm which provides expert, financial advice to corporations and entrepreneurs in Canada and abroad. Capital Canada’s focus is in the private capital markets, providing investment banking services including mergers and acquisitions, private placements, financial restructuring, and general financial advisory services including fairness opinions. Capital Canada’s dedicated professionals provide hands-on, personalized attention in order to achieve the optimal outcome for the client. For more information, visit www.capitalcanada.com.