Friendly's
PE-Owned1 Documented ImpactSun Capital executed sale-leaseback on 160 properties, dumped $115M pension. Filed bankruptcy twice. Sold for just $2M — fraction of $337M Sun paid.
Ownership Information
Friendly's is owned by Sun Capital Partners. Private equity ownership often leads to cost-cutting, price increases, and reduced quality of service as firms prioritize returns for investors over customers and employees.Learn more about PE ownership impact →
Timeline
Friendly's founded
Acquired by Sun Capital Partners for $337 million
Friendly's bankrupted twice under Sun Capital, sold for $2M
Sun Capital executed sale-leaseback on 160 properties, dumped $115M in pension obligations. Two bankruptcies. Eventually sold for just $2M — a fraction of the $337M Sun paid.
Before vs. After PE Acquisition
Restaurants
Reported 2020
Before PE
~500 restaurants
After PE
~130 restaurants
↓ 74%
Tracked Locations
CA (2)
Los Angeles
78 Main St
Los Angeles, CA 90001
555-799-7439
San Diego
1608 Main St
San Diego, CA 92101
555-895-3333
FL (1)
Tampa
3577 Main St
Tampa, FL 33601
555-626-5369
NC (1)
Charlotte
1598 Main St
Charlotte, NC 28201
555-108-1212
NY (1)
New York
9268 Main St
New York, NY 10001
555-270-3652
PA (1)
Philadelphia
1007 Main St
Philadelphia, PA 19019
555-658-4650
TX (2)
Dallas
8937 Main St
Dallas, TX 75201
555-164-9069
Houston
1762 Main St
Houston, TX 77001
555-500-1543