Equity firm Boxwood Capital Partners acquires yogurt store operator sweetFrog

Associated Press

Private equity firm Boxwood Capital Partners LLC has acquired yogurt store operator sweetFrog Enterprises.

Boxwood announced the acquisition Monday in a news release. Terms of the deal weren't disclosed.

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The Richmond, Virginia-based firm had been a minority investor in sweetFrog since April 2012.

SweetFrog has 348 company-owned, franchised and independently licensed stores in 24 states, the Dominican Republic and the United Kingdom. The company plans to open a store in Egypt.

Boxwood says it plans to expand sweetFrog's product offerings and continue the company's expansion internationally.

SweetFrog founder Derek Cha says in the release that he will retain 15 stores, making him the company's largest franchisee.

SweetFrog was founded in 2009.