WILMINGTON, NC (WWAY) -- Fuzzy Peach, a self-serve frozen yogurt store started by a group of UNCW graduates with locations in three states, has been sold.
U-Swirl, Inc. announced late last week it has acquired the business assets of Fuzzy Peach Franchising, LLC, for $481,000 in cash. The deal includes all intellectual property and worldwide franchise and license rights, including the rights to 17 Fuzzy Peach stores in North Carolina, South Carolina and Virginia. U-Swirl says the purchase price could increase as much as $349,000 based upon royalty income generated by Fuzzy Peach stores over the next twelve months.
According to a news release, U-Swirl says the purchase will increase its store base by six percent and increase its presence in the southeast. The company will now have 286 locations in 38 states under the brand names U-Swirl, CherryBerry and Fuzzy Peach.
The founders of Fuzzy Peach declined an on-camera interview.