SPG Partners Acquires Majority Stake in Tasti D-Lite

By: Planet Smoothie | 3 Shares 247 Reads

February 12, 2007 // Franchising.com // New York, NY - SPG Partners LLC, a New York-based private equity firm, announced it has acquired the New York-based Tasti D-Lite brand through a newly formed entity called Tasti D-Lite LLC. SPG Partners and co-investors have capitalized Tasti D-Lite to acquire the Tasti D-Lite assets and to provide capital for future growth.

The Tasti D-Lite brand was founded in 1987 as a frozen dairy dessert which possesses lower caloric and fat content than traditional ice cream offerings. Tasti D-Lite is now sold in 34 retail locations throughout New York City and another 10 retail locations in Texas, New Jersey, Connecticut and Florida.

"Tasti D-Lite represents the fourth investment for SPG Partners and presents an opportunity for SPG and our co-investors to acquire a well positioned retail brand that is prominent in the segment of the frozen dessert market serving consumers aspiring for a healthy dessert alternative," said Ian Snow, SPG's Managing Partner.

SPG also announced today that James H. Amos, one of the firm's operating partners, will serve as Chief Executive Officer of Tasti D-Lite. Mr. Amos has achieved significant operating success growing franchised retail operations. During his tenure as Chairman and CEO of Mail Boxes, Etc. / The UPS Store, the company was the world's largest and fastest growing franchisor of retail business, communication and postal service centers. Mr. Amos has been recognized in multiple industry publications, including "Who's Who in American Executives," and "Who's Who in Finance and Industry". Mr. Amos is past Chairman of the International Franchise Association.

"Tasti presents an opportunity for SPG to acquire a leading retail brand with potential to become the number-one 'better-for-you' frozen dessert to the world" Mr. Amos said.

Co-investors will include Mr. Thomas H. Lee and related parties. SPG was introduced to the former owner by Mr. Lee.

About SPG Partners, LLC

SPG is a New York-based private equity firm seeking to acquire businesses in attractive industries where it can leverage the expertise of its exclusive Operating Partners, who are seasoned industry executives.

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