New Owner of Friendly’s, Clean Juice Parent Ready to Revive Portfolio
Legacy Brands International aims to revitalize Friendly’s and Clean Juice after recent ownership transition.
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Amol Kohli has taken the helm of Legacy Brands International, which includes Friendly’s and Clean Juice, after acquiring Brix Holdings. The company operates over 250 locations across 40 states and plans to focus on growth through menu innovation and remodels, particularly for Friendly’s, which has seen significant closures in recent years.
Why It Matters
This acquisition and the commitment to reinvigorate Friendly’s suggest potential changes in territory availability and alter unit economics, particularly as the brand attempts to recover from past struggles.
Amol Kohli, the CEO and owner of Legacy Brands International, has acquired Brix Holdings, the parent company of popular chains such as Friendly’s and Clean Juice, in a stock transaction valued at less than $50 million. Kohli's journey from working as a dishwasher at Friendly's to leading a multi-brand portfolio illustrates his deep roots within the franchise system. The acquisition includes well-known brands with over 250 locations across 40 states, which positions Legacy Brands to restart growth following prior struggles.
Brix Holdings currently comprises 87 Friendly’s, 62 Orange Leaf, 56 Clean Juice, 31 Red Mango, six Humble Donuts, eight Smoothie Factories, and three Souper Salads, as outlined by CEO Sherif Mityas. Kohli is financing this deal through a combination of equity and debt, though specific financial details remain undisclosed due to Legacy Brands’ private status. The company is reportedly in “arena mode,” preparing for strategic initiatives to revive the brands, including plans for 18 new store openings this year.
Friendly’s, which has experienced significant decline—closing nearly 750 locations since its peak in the mid-1990s—seeks to reinvent itself with menu innovations and modernized store prototypes. Meanwhile, Clean Juice has faced challenges, including franchisee dissatisfaction stemming from a recent shift from fresh to pre-bottled products, which reportedly impacted profitability. Kohli's leadership may signal a renewed focus on franchisee relations and brand revitalization.
