Rita's Italian Ice Appoints New Executives To Accelerate Company's Growth

TREVOSE, Pa., Aug. 20, 2013 /PRNewswire/ -- Rita's Italian Ice, the nation's largest Italian Ice concept with over 600 outlets in 20 states, announced the appointment of two key senior executives today to support the brand's next phase of growth. Jeff Moody, a 30 year quick service industry veteran, has been selected as Chief Executive Officer, and will assume the role effective immediately.

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Moody brings a distinguished 32 year career to Rita's from CEO of MetroMedia Restaurant Group (Bennigan's, Steak & Ale, Ponderosa, Bonanza), President of KFC U.S., and a division Vice President at Pizza Hut U.S. where he oversaw 2,000 domestic units. In his most recent restaurant capacity, Jeff was CEO of Subway's Franchise advertising Trust, which is a separate $600 million entity. He holds a B.A. in Economics from Amherst College, and an MBA from Northwestern. Moody will also join the Company's Board of Directors.

"Jeff's experience with growing quick service brands is vital to our vision of expansion," said Mike Lorelli, Executive Chairman. "Jeff has a long and successful track record of working with franchisees and building brands of leading restaurant companies. We are very happy to have him join our team for the next phase of our growth plan."

Another senior executive, John Dombroski, has been named Senior Vice President and Chief Financial Officer of the company.  Most recently, Dombroski served as Chief Financial Officer of Sancoa, and previously held senior finance positions with Hasbro, and Campbell Soup.  He also holds a Masters from Drexel University and is a registered CPA.  

Lorelli will continue as Executive Chairman of the Board of Rita's and an Operating Partner of Falconhead Capital. Lorelli's own franchise and QSR experience includes CEO responsibilities at PepsiCo's franchise bottling business and Pizza Hut, later spun off as YUM Brands.  Falconhead Capital acquired the company in December of 2011.  

About Rita's Franchise Company
Rita's Franchise Company, founded in 1984 and headquartered in Trevose, PA, is the largest Italian Ice concept in the United States, currently operating in 20 states with over 600 outlets. Rita's presently has international outlets opening in China, India, ABC islands (Aruba, Bonaire and Curacao), and Canada, and is continuing to grow nationally and internationally through franchise opportunities.

The popular chain offers a variety of frozen treats including its famous Italian Ice, made fresh daily with real fruit, available in over sixty-five flavors, Old-Fashioned Frozen Custard, Milkshakes, Sundaes with Unlimited Toppings, Light Custard, Frozen Custard Cakes, Custard Cookie Sandwiches made with OREO®, layered Gelati as well as its signature Misto® and Blendini® creations. Since 1984, "Ice, Custard, Happiness," has been the brand's motto, and almost thirty years later, Rita's is still dedicated to serving up a big dose of happiness with their freshly made, delicious, custom treats, in a fun-filled atmosphere.

Rita's topped the Zagat Survey for the #1 Best Quick Refreshment, Ice Cream/Custard for 2012, and was named one of the Top 25 Franchise High Performers by the Wall Street Journal's "Startup Journal" and named Top 100 on Entrepreneur Magazine's "Top 500 Franchise Rankings" in 2012.  For more information about Rita's please call 1-800-677-7482 or visit www.ritasice.com or www.ownaritas.com

About Falconhead Capital
Falconhead Capital, LLC www.falconheadcapital.com, with $400 million of assets under management, is a private investment firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in consumer-focused businesses. Falconhead Capital's current portfolio includes Escort, Inc., GPSI Holdings, Javo Beverage Company, Not Your Daughter's Jeans, Our365 (f/k/a Growing Family), and Rita's Water Ice Franchise Company, LLC. Past Falconhead investments include, among others, National Powersport Auctions, Maritime Telecommunications Network, ESPN Classic Europe, LLC, and Competitor Group, Inc.

SOURCE Rita's Italian Ice