- people on the move
Private equity exec acquires frozen yogurt company
A local private equity executive is set to help grow a frozen yogurt company.
Spoonlickers said yesterday that it has been acquired by Martin Stein, the founder of Grand Rapids-based Blackford Capital.
The deal is not an investment by Blackford Capital.
Spoonlickers operates three locations in the area.
The “strategic partnership” with Stein will bring capital and business expertise to grow the company and add additional locations across Michigan and a focus of corporate and private catering.
The company also hopes to grow Spoonlickers’ line of products in grocery stores and restaurants.
”When my family and I started Spoonlickers, we did it with every intention of eventually partnering with someone who could help us grow the business and take it to the next level,” said David Darling, founder and CEO, Spoonlickers. “Our goal was to create a compelling brand, with healthy, one-of-a-kind products and tremendous customer satisfaction and then expand.
“Given Martin’s background of working with family owned businesses, his commitment to the state of Michigan and his four kids’ love of Spoonlickers, we found the ideal partner and are excited to see how we can grow.”
Spoonlickers’ frozen yogurt is made with "real milk," as well as no processed formulas, mixes, powders, corn syrup or artificial flavors.
“I believe the market for Spoonlickers lies well outside the boundaries of our own local economy,” Stein said. “The story, the brand and the products have the potential to take the self-serve dessert industry by storm. I look forward to working with David and his team to grow this Michigan-based company and promote their exceptional products.”