Rita's Italian Ice

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Rita’s Italian Ice
Private (subsidiary of Falconhead Capital Partners)
Industry Dessert, Quick Service
Founded 1984
Founder Bob Tumolo
Headquarters Trevose, Pennsylvania, United States
Number of locations
 600+ (2014)
Key people
 Jeff Moody President and CEO, Ice Guy mascot
Products Rita's Italian Ice
Parent Falconhead Capital
Website ritasice.com

Rita's Italian Ice, also known as Rita's Water Ice, is an international franchise based in Trevose, Pennsylvania, selling mainly Italian ice, frozen custard as well as specialty creations.[1]

History

Rita's was founded in 1984 by former Philadelphia firefighter Bob Tumolo with a recipe that he purchased from an elderly neighbor that he then adjusted to enhance the flavors and include real fruit. Rita's originally advertised its product as "water ice", using the colloquial term for what is sometimes called "Italian ice" in other areas of the country. By 1987 a second store was opened, and in 1989 the family decided to franchise their business. Today, there are over 600 locations in 25 states and the District of Columbia. In May 2005, the company was sold to McKnight Capital Partners, a private equity group with extensive franchise experience.[2][3] McKnight Capital Partners recognized the organization’s growth potential and set into place plans to take the company to the next level.[1]

In April 2007, Rita's moved its Bensalem headquarters to the Trevose section of Bensalem Township.[4]

In 2011, Falconhead Capital purchased a controlling interest in the company from an investment group led by Jim Rudolph. Falconhead named their operating partner Thomas Christopoul as the new chairman and interim chief executive.[5]

In 2013, Rita's opened its first location outside of the United States in Shenzhen, China.

Rita's has traditionally given out a free regular-sized water ice on the first day of Spring.[6]

Products

Partnerships

In March 2010, Rita's Italian Ice announced it would partner with Bethlehem-based Just Born, Inc. to introduce a seasonal Peeps Brand Marshmallow Candy flavored ice.[14]

The partnership between Rita's and Peeps would provide new flavor combinations, such as "Peeps Chocolate Covered Gelati", "Peeps Chocolate Covered Misto" and "Peeps Pie Blendini".[14] The Peeps flavor was discontinued in 2011.

Rita's partnered with Cadbury in July 2009 to introduce its Swedish Fish Italian ice flavor. On June 29, 2012, Rita's partnered with Cadbury once more to release its Sour Patch Kids Red Italian ice flavor.

Other companies involved in Rita's Italian ice flavors:

Alex's Lemonade Stand Foundation, "Alex's Lemonade" Italian ice.

Nabisco, "Oreo Cookies and Cream" cream ice and "Mint Oreo®" cream ice.

References

  1. ↑ 1.0 1.1 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Philadelphia Business Journal, May 4, 2005
  3. ↑ Pittsburgh Business Times, May 4, 2005
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Associated Press, Bloomberg Businessweek, 1 December 2011. "Falconhead Capital acquires Rita's Water Ice". Accessed 7 December 2011.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ 14.0 14.1 Lua error in package.lua at line 80: module 'strict' not found.

External links


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