Z Capital Partners has become the sole owner of TCBY Yogurt after bought out the remaining minority stake in its parent company Famous Brands International from fellow private equity firm Carlyle Group.
Following the deal, Z Capital CEO James Zenni will become chairman of Famous Brands International.
Zenni said, “The company has made great strides over the past several years in developing a strong foundation for growth and success.
“We are committed to aggressively supporting the business globally to build on the momentum it has gained and help it become more successful in the future.
“We are confident that, with (newly appointed CEO) Neal Courtney and his experience leading our talented management team, Famous Brands will continue to grow these two iconic brands and realize tremendous expansion across all of its global channels.”
Chicago-based Z Capital is currently raising its $500m Special Situations Fund II.
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