Argosy Private Equity, a lower middle market private equity firm, announces it has exited its investment in Rita's Franchise Company, LLC. Founded in 1984 and headquartered in Trevose, PA, Rita's is one of the premier frozen treat purveyors in the industry. The company's journey began when Bob Tumolo, a former Philadelphia firefighter, opened the first Rita's location in Bensalem, PA. Tumolo expanded the brand by introducing franchising, and today, the Rita's franchise network spans approximately 600 locations across 30 U.S. states, as well as international markets. Known for its loyal customer base, Rita's has been named a top food franchise by Franchise Times, Entrepreneur Magazine, and Entrepreneur's Startup. Additional recognition from top publications like Zagat and The Wall Street Journal have solidified its place as a beloved and celebrated brand in the frozen dessert space.

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