Wetzel's Pretzels | |
Company type | Private |
Industry | Food and beverage Pretzel Shop |
Genre | Quick service |
Founded | 1994 South Bay Galleria, Redondo Beach, California, U.S. |
Founder | Rick Wetzel Bill Phelps |
Headquarters | , US |
Number of locations | 370 (2023) |
Key people | Jennifer Schuler, CEO |
Products |
|
Revenue | US$245 million (US, 2022) |
Owner |
|
Number of employees | 2,000 (2021) |
Website | wetzels |
Wetzel's Pretzels is an American chain of fast-food restaurants, specializing in pretzels and hot dogs. The chain has more than 370 locations across the United States, Canada and Central America, as well as formerly in Finland, mostly located in shopping malls, airports, theme parks, and stadiums; plus, as of recently, food trucks. [1] The company is headquartered in Pasadena, California.
Wetzel's Pretzels was founded in 1994 by Rick Wetzel and Bill Phelps in Pasadena, California. The chain's first location opened that year at the South Bay Galleria in nearby Redondo Beach. Its name was inspired by childhood taunts used by Wetzel's classmates. [2]
In 1997, Wetzel and Phelps took on multiple investors, including John Davis and Gary L. Wilson. Wilson's connections to Disney paved the way for the chain to open locations at Disneyland and Walt Disney World.
Los Angeles-based private equity firm Levine Leichtman Capital Partners Inc. bought a majority stake in the company in 2007 for an undisclosed amount. Phelps still owns a 20% share, while Wetzel holds a smaller stake. [2] [3]
In October 2016, Levine Leichtman Capital Partners sold majority stake to Dallas-based private equity firm CenterOak Partners LLC. after holding the majority stake for 9 years. [4]
In 2019, Phelps was succeeded as CEO by Jennifer Schuler. [5]
In December, 2022 Wetzel's Pretzels was acquired by MTY Food Group for $207 million. [6]
Wetzel's menu is centered around its namesake pretzels along with hot dogs and lemonade. Their signature pretzels come in various flavors such as the Wetzel's Original (salted or unsalted), cinnamon sugar, pepperoni and more. Guests can also choose Bitz, more snackable pretzel bites, available in Original, Cinn-a-bitz or Pizza Bitz (with pepperoni). Other pretzel items range from the full-sized Wetzel Dog, an all-beef hot dog wrapped in pretzel or Dog Bites and Cheesy Dog Bites, the bite-sized iteration.
Wetzel's is known for its fresh and frozen lemonades, which are available in original and strawberry flavors. They also offer a variety of other drinks such as granitas and were the first restaurant in the snack category to introduce boba popping pearls to the menu, with flavors like Cherry and Mango.
Jamba Juice, or referred to as Jamba, is an American quick-service restaurant and juice bar chain that sells blended fruit and vegetable juices, smoothies and other food products. The first Jamba Juice location, originally named Juice Club, opened in 1990 in San Luis Obispo, California. Jamba is owned by GoTo Foods, an affiliate of private equity firm Roark Capital Group, which completed its acquisition in 2019. The company has more than 850 locations operating in 36 states in the United States, and also has locations in Australia, Japan, the Philippines, Taiwan, South Korea, Thailand, and Indonesia.
Jimmy John's Franchise, LLC, commonly referred to as Jimmy John's, is an American sandwich chain, headquartered in Champaign, Illinois. The business was founded by Jimmy John Liautaud in 1983. After Liautaud graduated from high school, his father gave him a choice to either join the military or start a business. Liautaud decided to start a hot dog business, which changed to sandwiches due to costs.
Bruegger's Enterprises, Inc. is a restaurant operator and subsidiary of the Luxembourg-based company JAB Holding Company. Bruegger's and its wholly-owned subsidiary Threecaf Brands Canada, Inc., are franchisers and operators of Bruegger's bakery-cafés, and Michel's Baguette.
Hot Pockets is an American brand of microwaveable turnovers generally containing one or more types of cheese, meat, or vegetables. Hot Pockets was founded by Chef America Inc. Since April 20, 2002, they have been produced by Nestlé.
The cuisine of Philadelphia was shaped largely by the city's mixture of ethnicities, available foodstuffs and history. Certain foods have become associated with the city.
Rita's Franchise Company, LLC, doing business as Rita's Italian Ice, is a privately owned and operated American quick service restaurant chain originating in the Philadelphia metropolitan area that expanded throughout and now operates primarily in the Mid-Atlantic United States. The chain is known for its Italian ice or "water ice" and frozen custard, but also offers multiple types of frozen treats and specialty creations.
Auntie Anne's is an American franchised chain of pretzel shops founded by Anne F. Beiler and her husband, Jonas, in 1988. Auntie Anne's serves products such as pretzels, dips, and beverages. They also offer Pretzels & More Homemade Baking Mix for those who want to make their pretzels at home. The chain has more than 1,200 stores around various locations, such as in shopping malls and outlet malls, as well as non-traditional retail spaces including universities, parking/rest areas, airports, train stations, travel plazas, amusement parks, and military bases. Their slogan as of 2010 is "Pretzel Perfect".
Lion Capital LLP is a British private equity firm specialising in investments in the consumer sector. Previous and current consumer brands owned by Lion have included Weetabix, Jimmy Choo, Wagamama, Kettle Foods and AllSaints.
Tropical Smoothie Cafe, also referred to as Tropical Smoothie, is a restaurant franchise in the United States. It operates more than 1400 locations nationwide.
Pretzelmaker is a chain of independently owned and operated franchised stores that specialize in hand-rolled pretzels, smoothies and cold beverages. It is a franchise brand in the portfolio of Global Franchise Group. It has more than 280 locations in the U.S. and internationally.
Zoës Kitchen was a Mediterranean Style restaurant chain, and a subsidiary of the Cava Group. Their headquarters were located in Plano, Texas. In 2013, the chain had grown to host over 200 locations across 17 states, however, acquisition by Cava Group resulted in a reduction of Zoe's locations. As of late December 2022, only 35 locations in 13 states remained. At the rate of closure in 2022, it was expected that the chain would cease operations by 2023.
Shearer's Foods, LLC is a U.S. manufacturer and distributor of snack foods. Founded in 1974 as Shearer's Snacks, it is headquartered in Brewster, Ohio.
MTY Food Group Inc. is a Canadian franchisor and operator of numerous casual dining, fast casual, and quick service restaurants operating under more than 70 brand names, some of them through wholly owned subsidiaries. Headquartered in the Montreal borough of Saint-Laurent, Quebec, the number of outlets carrying MTY brands reached 5,500 in 2017. Stanley Ma is the group founder, President and CEO. MTY Food Group's brands include Thaï Express, Country Style, Groupe Valentine, Vanelli's, Extreme Pita, Cultures, La Crémière, Sushi Shop, Veggirama, Caferama, O'burger, Tiki Ming, Vie & Nam, Au Vieux Duluth Express, FranxSupreme, ChicknChick, Croissant Plus, Koya Japan, Kim Chi, Panini, Tandori, Tutti Frutti, Villa Madina Mediterranean Cuisine, Sukiyaki, Taco Time, Yogen Früz, and the Canadian branch of TCBY.
Bambolino's is an Italian American restaurant in Houston, Texas. The original Bambolino's Inc. restaurant chain was established by Ninfa Laurenzo and her family, who had established the Ninfa's restaurant chain. The original Bambolino's was controlled by the holding company RioStar Corp.
Sweet Frog is a chain of frozen yogurt retail restaurants owned and operated by Sweet Frog Enterprises, LLC. Sweet Frog customers create their own soft-serve frozen yogurt with numerous flavors and toppings from which to choose. Derek Cha, who immigrated to the United States from South Korea at the age of 12, is the founder of sweetFrog. He opened the first sweetFrog shop in Richmond, Virginia in 2009, at a time when the United States economy was in a recession. Cha founded sweetFrog on Christian principles. The "FROG" part of the name, according to Cha, is actually an acronym for "Fully Rely on God".
TDR Capital LLP is a British private equity firm headquartered in London, England.
La Salsa is a chain of fast-casual Tex Mex restaurants founded in Los Angeles, California in 1979, headquartered in Scottsdale, Arizona and is owned by Canadian franchisor MTY Food Group. The chain emphasizes fresh ingredients, and each restaurant features a self-serve salsa bar.
Valentine is a Canadian chain of over 100 privately owned restaurant franchises operating in the province of Quebec, Canada. In September 2010 it became a subsidiary of MTY Food Group which purchased the brand rights for $9.3 million.
Swig is a drive-through soda-fountain chain primarily located in the western United States. The chain, known for its popular "dirty sodas," was founded in April 2010 by Nicole Tanner in St. George, Utah. Since then, Swig has experienced steady growth and, as of 2023, operates locations in seven states. Swig is owned by the Savory Fund, a private equity firm, the Larry H. Miller Company.
Dave's Hot Chicken is an American fast casual restaurant chain specializing in Nashville-style hot chicken.