A Metro Detroit businessman who owns the
Papa Romano's
and
Mr. Pita
restaurant chains has acquired a majority stake in the
Saline-based
Stucchi's ice cream company,
with plans to franchise future stores both in Michigan and
out of state.
Casey Askar is buying a bulk of Stanford LLC Ltd., the
company that runs the licensing arm of Stucchi's and its
Saline ice cream manufacturing plant, from Jason Abbate,
Kevin Phelps and a third silent partner in a deal set to
close around April 1. Askar will rename the new holding
company Stucchi's Products LLC. Terms of the transaction
were not disclosed.
"They are a strong Michigan brand with strong Michigan ties.
We complement each other very very well," Abbate said.
"Their lines will add to our existing stores. Papa Romano's
and Mr. Pita have the know-how and the experience in
franchising, which will help us grow in the future."
Stucchi's manufacturing facility and half-dozen employees
will remain in Saline, said Abbate, who will continue to run
the 6,000-square-foot plant. Phelps will stay on to manage
the independently owned Ann Arbor Stucchi's stores, of which
he is a part owner. All three former owners will maintain an
ownership stake in the new Stucchi's Products.
Stucchi's makes and sells 76 kinds of ice cream, 68
varieties of frozen yogurt and nine different sorbets at 12
retail outlets in three states, including four in Washtenaw
County, as well as at 50 grocery and convenience stores. Its
Saline plant makes about 60,000 gallons of product annually
and has ample capacity to make more and even expand the
plant if necessary.
|
Stucchi's
• Business: Makes and sells ice cream, frozen
yogurt and sorbet.
• Ownership: Founded by David and Chris
Fischera in 1986; sold to Jason Abbate, Kevin Phelps
and a silent partner in 2003; sold to Casey Askar in
2008.
• Facilities: Manufacturing plant in Saline;
independently owned retail Stucchi's stores in Ann
Arbor, Dexter, Pittsfield Township, Milford,
Livonia, Okemos, Royal Oak, Birmingham, Detroit,
Boston and Wake Forest, N.C.
• Production: Stucchi's Saline plant makes
about 60,000 gallons of product annually.
• Employees: Nine, including six at the
Saline plant and three in management. |
Brothers David and Chris Fischera started Stucchi's in 1986
in Ann Arbor using their grandmother's recipe for homemade
ice cream. Abbate, Phelps and their third partner bought
Stucchi's and its five stores from the Fischeras in 2003.
Since then, they've grown the company to a dozen stores, all
of which are owned and operated by independent licensees. A
store typically employs 10 to 15 people.
Askar plans to offer to convert the current Stucchi's stores
to franchises and will continue to open new franchises, both
as standalone Stucchi's and co-branded with Papa Romano's or
Mr. Pita restaurants. Its first co-branded Papa Romano's/Stucchi's
store is set to open this spring in White Lake.
"We are always looking for brands to complement our existing
product line and specifically had been seeking a strong
dessert brand to add to our mix," Askar said in a statement.
"With its high quality product and strong Michigan roots,
Stucchi's is an excellent fit with our product line and also
works well for us operationally."
Askar also plans to increase the number of third-party
retailers that sell Stucchi's ice cream.
The Papa Romano's pizza and Mr. Pita sandwich chains owned
by Askar, both based in Commerce Township, generated
combined systemwide sales of $34 million last year. Abbate
declined to disclosed Stucchi's annual revenue. Papa
Romano's has 48 Michigan locations and was founded in 1970;
Mr. Pita started in 1993 and has 36 stores in Michigan and
Florida.
In February, Askar announced plans to expand Papa Romano's
and Mr. Pita in Colorado, Texas and North Carolina.
Reached by telephone in Florida Tuesday, Askar said he hopes
to build a diversified food portfolio of companies similar
to that of
Yum Brands Inc.,
a Kentucky-based restaurant company that owns such brands as
Pizza Hut, Taco Bell, A&W Restaurants and KFC Corp.
Previously, Askar - who served a stint in the U.S. Marine
Corps - has owned gyms, gas stations and pizza restaurants.
He was the chief executive officer of Papa Romano's before
buying the company.
"We are providing opportunities for franchising that a lot
of companies don't offer by providing multiple brands,"
Askar said.