Philly Pretzel Factory acquires pretzel cone manufacturing company

Company Overview - Philly Pretzel Factory has acquired Cone Guys, a manufacturer of pretzel cones, to diversify its product offerings into the dessert category [1][4] - Cone Guys, founded in 1994, has established its pretzel cone as a popular item in ice cream shops across the U.S., with various flavors available through multiple distribution channels [2] Strategic Rationale - The acquisition is seen as a natural extension of the Philly Pretzel Factory brand, allowing for the expansion of Cone Guys' reach and the exploration of new growth opportunities in the frozen dessert market [3] - The addition of Cone Guys enhances Philly Pretzel Factory's manufacturing capabilities and opens avenues for ice cream partnerships, retail expansion, and cross-promotional opportunities [4] Market Context - The deal reflects an increase in merger and acquisition activity in the food industry, following a quieter period in early 2024 and 2025, with several notable transactions occurring recently [5]