Wetzel's Pretzels

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Wetzel's Pretzels
Fast food franchise
IndustryRestaurants
Founded1994
FounderRick Wetzel
Bill Phelps
HeadquartersPasadena, California
Number of locations
305 (2016)
Key people
Bill Phelps, CEO
ProductsPretzels
Websitewetzels.com

Wetzel's Pretzels is a Pasadena, California-based franchise of fast-food restaurants. The first Wetzel's Pretzels location opened in 1994 at the South Bay Galleria in Redondo Beach, California. Currently, Wetzel's Pretzels has 300+ locations in the United States and six other countries worldwide.

In 1996, Wetzel's began franchising their brand, and now has a co-branding relationship with Cold Stone Creamery, Juice It Up!, Swensen's and more.[1]

Investors[edit]

Los Angeles private equity firm Levine Leichtman Capital Partners Inc. bought a majority stake in the company in 2007 for an undisclosed amount. Phelps still owns a 20% share, while Wetzel holds a smaller stake.[2][3]

In October 2016, Levine Leichtman Capital Partners sold majority stake to Dallas-based private equity firm CenterOak Partners LLC. after holding the majority stake for 9 years.[4]

Philanthropy[edit]

Wetzel's Pretzels, along with Rick Caruso of Caruso Affiliated, each donate $7,500 to the Beyond the Bell program of the Los Angeles Unified School District.[5]

Locations[edit]

A Wetzel's Pretzels location at Tysons Corner Mall, Tysons Corner, Virginia].

As of 2016, Wetzel’s Pretzels has 305 locations in 28 states and six countries. Its stores are located in shopping malls, outlet centers, theme parks, select discount retail stores, train stations, and airports.[6]

Products[edit]

Foods[edit]

The majority of Wetzel's Pretzel's menu consists of its namesake, pretzels. They come in several different flavors such as Wetzel's Original (buttered or non-buttered), cinnamon sugar, almond crunch, sour cream and onion, cinnamon glaze, jalapeño, garlic, and pepperoni.

They also have other pretzel items such as the Wetzel Dog, which is a pretzel wrapped around an all-beef hot dog, with or without cheese. They also sell bite-sized pretzels called Wetzel Bitz that come with either butter and salt or cinnamon and sugar.

Dips for the pretzels and Wetzel dogs are also sold. The current lineup of condiments include cheese, jalapeño cheese, pizza sauce, caramel, and cream cheese.

Beverages[edit]

  • Frozen Lemonade, sold in a variety of flavors.
  • Frozen Granita, a frozen version of the Italian dessert.[7]

References[edit]

  1. ^ "Wetzel's Pretzels Franchise". The Franchise Mall. Retrieved 12 November 2015.
  2. ^ "Levine Leichtman Capital Partners Acquires Wetzel's Pretzels". Retrieved 8 November 2014.
  3. ^ "Wetzel's is sold -- to let even more dough roll in". Los Angeles Times. Retrieved 8 November 2014.
  4. ^ http://www.businesswire.com/news/home/20160902005644/en/CenterOak-Partners-Acquires-Wetzel%E2%80%99s-Pretzels
  5. ^ City News Service (9 July 2015). "Wetzel's Pretzels, Rick Caruso donate $7,500 to cover LAUSD deposit at Trump club". Los Angeles Daily News. Retrieved 12 November 2015.
  6. ^ http://www.businesswire.com/news/home/20160902005644/en/CenterOak-Partners-Acquires-Wetzel%E2%80%99s-Pretzels
  7. ^ Wetzel's Pretzels. "Menu". Retrieved 26 June 2018.