June 18, 2007 3:25 PM

Friendly's gets scooped up
Posted by Douglas Eisenhartat 3:25 PM

Hard to believe, but yet another New England institution has been swallowed up by outside financial interests.

This time, iconic family restaurant Friendly Ice Cream Corp., based in the central Massachusetts town of Wilbraham, has been acquired by Sun Capital Partners.

The company, which holds a sweet spot in many New Englanders' hearts, has a long and storied history:

Friendly's was started in Springfield in 1935 by brothers Prestley and Curtis Blake. Prestley Blake sold the company in 1979, but he remains a major shareholder and vociferous critic of the company's current management.

Friendly's now runs a chain of 514 company-owned and franchise restaurants in the Northeast and distributes ice cream through more than 4,500 supermarkets and other retail locations.

"Friendly's is an iconic brand name in the family restaurant sector and we are excited to add this great franchise to our portfolio of restaurant investments. We look forward to working with management to build on the legacy of this great brand and reinvigorate and expand the company within and beyond their historical markets," said Gary Talarico, managing director for Sun Capital Partners Inc.

While Sun looks ahead to building and extending the brand, you can take a nostalgic walk back through time in this photo gallery of the Friendly years, from its founding during the Depression to today.