RadioBDC Logo
Sleepyhead | Passion Pit Listen Live

Friendly Ice Cream Corp. history

1978: Blakes sell company to Hershey's The Hershey Foods Corp. offered $162 million, or $23 a share, for Friendly Ice Cream's 7.05 million outstanding shares in December 1978. Friendly's board of directors, including chairman Prestley Blake, unanimously agreed to recommend the Pennsylvania company's offer to shareholders. At the time, Friendly operated 574 ice cream and sandwich shops and 25 family restaurants in 17 states.
Dominic Chavez / Globe Staff File Photo
  • E-mail

    • E-mail this article

    Invalid E-mail address
    Invalid E-mail address

    Sending your article

    Your article has been sent.

1978: Blakes sell company to Hershey's

The Hershey Foods Corp. offered $162 million, or $23 a share, for Friendly Ice Cream's 7.05 million outstanding shares in December 1978. Friendly's board of directors, including chairman Prestley Blake, unanimously agreed to recommend the Pennsylvania company's offer to shareholders.

At the time, Friendly operated 574 ice cream and sandwich shops and 25 family restaurants in 17 states.