Our portfolio at Sun Capital partners is made up of a diverse group of companies across the consumer products and services, food and beverages, industrial, packaging, chemicals, building products, automotive, restaurants and retail sectors. One of the reasons I enjoy private equity investing is the wide variety of companies I get to work with. The many industries in which we operate, continuously create opportunities to make on new challenges and tackle previously uncharted waters.

Every relationship we have with a portfolio company is unique. Take Friendly's for example. Friendly's, known for its sandwiches, signature ice cream desserts, and the family friendly environment in their standalone restaurants, also distributed its branded ice cream through more than 4,000 super market and retail locations.

Friendly's has a great history in the Northeast and is loved by generation of families. recently, Massachusetts Governor Charlie Baker paid a visit to our Wilbraham, Mass. Facility where he met with the CEO John Maguire and sampled the ice cream.

LINK: http:www.masslive.com/news/index.ssf/2016/06/gov_charlie_baker_welcomed_to.htm

We have been involved with Friendly's for nearly a decade, and have played a number of key roles to help Friendly's overcome challenges. Over the past five years, we have worked closely with management's effort to expand distribution of the Friendly's ice cream into key leading retailers. This strategic move ultimately led to a sales increase of more than 100%, and made the Friendly's ice cream business attractive for buyers. In June, Dean Foods Co., finalized their purchase of the Friendly's ice cream manufacturing and retail distribution business.

The conclusion of the successful sale of the ice cream distribution portion of the Friendly's brand means continued growth of the Friendly's ice cream brand while we focus on the operations of more than 260 Friendly's restaurants. This is an exciting opportunity to continue growing in new existing markets.