CoolBrands International
CoolBrands International was a Canadian frozen-food and dessert company that built a portfolio of licensed and acquired brands before selling most of its operating assets and merging into Swisher Hygiene.
Last updated August 26, 2026
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Overview
CoolBrands International was a Canadian frozen-food and dessert company headquartered in Markham, Ontario. Its business developed from frozen-yogurt retailing and franchising into a broad branded-food platform serving the North American market. The company combined owned brands, acquired businesses, manufacturing operations, distribution capabilities, and long-term licensing arrangements with well-known consumer names. The company’s early history was associated with Yogen Früz, a frozen-yogurt business founded in 1986 by brothers Michael Serruya and Aaron Serruya. CoolBrands later operated beyond frozen yogurt, assembling a portfolio that included ice cream, frozen novelties, yogurt, fruit products, and related food categories. Under Michael Serruya, who served as president and chief executive officer, the company pursued acquisitions and licensing agreements intended to give it access to recognizable brands without necessarily owning every underlying trademark. A major phase of expansion began around the turn of the century. In 2000, CoolBrands acquired Eskimo Pie Corporation, adding a prominent frozen-novelty business. In 2002, it acquired Chipwich. The company also acquired the Breyers and Light ’N Lively yogurt brands from Kraft Foods. In addition, CoolBrands held exclusive long-term licenses for several brands, including Weight Watchers, Godiva, Tropicana, Betty Crocker, Trix, Yoo-hoo, and Welch’s. These arrangements gave the company a wide assortment of branded products and helped support its manufacturing and distribution activities. The model became vulnerable when important licensing relationships were lost. In 2004, CoolBrands lost the Weight Watchers and Smart Ones license, a setback that weakened part of its branded-food portfolio and contributed to financial difficulties. The company subsequently began reducing its operating scope. In December 2005, International Franchise Corp. acquired Yogen Früz and CoolBrands’ franchise division, including the Swensen’s ice-cream restaurant chain. The most substantial restructuring occurred in 2007. CoolBrands sold Eskimo Pie and Chipwich to the Dreyer’s division of Nestlé. It also sold its Direct Store Delivery business, described at the time as the second-largest such operation in the United States, and transferred its Whole Fruit business to J&J Snacks. The Breyers yogurt business and a 175,000-square-foot manufacturing facility in upstate New York were sold to Catterton Partners for $65 million. These transactions removed much of the company’s principal operating platform. Although CoolBrands remained a publicly traded corporate shell after the asset disposals, it no longer represented the diversified frozen-food company that had existed during its expansion period. In 2010, the shell merged with Swisher Hygiene Inc. through a reverse takeover. The transaction enabled Swisher Hygiene, a sanitation company that was losing money at the time, to obtain CoolBrands’ public listing and balance sheet. Swisher subsequently used that public-company structure during an acquisition program in 2011. CoolBrands therefore ended as an operating food company through divestitures and a corporate merger rather than through the continuation of its original branded-food business.
History
CoolBrands International emerged from the Canadian frozen-yogurt and dessert sector and became a larger branded-food company through acquisitions, licensing, franchising, and distribution. Its history is closely connected with Yogen Früz, the frozen-yogurt business founded in 1986 by Michael Serruya and Aaron Serruya. CoolBrands’ later corporate structure extended well beyond frozen yogurt, encompassing food brands, manufacturing assets, a Direct Store Delivery network, and franchise operations. During its expansion period, CoolBrands sought to assemble a portfolio that could reach consumers through supermarkets, foodservice channels, franchise locations, and direct distribution. The company acquired Eskimo Pie Corporation in 2000 and Chipwich in 2002. It also acquired the Breyers and Light ’N Lively yogurt brands from Kraft Foods. Alongside these owned or acquired assets, CoolBrands negotiated exclusive long-term licences for brands such as Weight Watchers, Godiva, Tropicana, Betty Crocker, Trix, Yoo-hoo, and Welch’s. This combination of ownership and licensing made the company a multi-brand platform rather than a single-product manufacturer. The strategy was exposed to licensing risk when CoolBrands lost the Weight Watchers and Smart Ones licence in 2004. The loss removed a significant component of its product portfolio and was followed by financial difficulties. CoolBrands began to retreat from parts of the business it had assembled. In December 2005, International Franchise Corp. acquired Yogen Früz and CoolBrands’ franchise division, which included Swensen’s. The transaction separated important franchise activities from the corporate food platform. CoolBrands’ retrenchment accelerated in 2007. Eskimo Pie and Chipwich were sold to the Dreyer’s division of Nestlé. The company also sold its Direct Store Delivery operation, which was described as the second-largest in the United States at the time. Whole Fruit was transferred to J&J Snacks, while the Breyers yogurt business and a 175,000-square-foot manufacturing facility in upstate New York were sold to Catterton Partners for $65 million. These transactions stripped away much of CoolBrands’ manufacturing, distribution, and branded-product base. After the asset sales, CoolBrands continued as a publicly traded corporate shell rather than as the operating frozen-food group that had characterized its earlier years. In 2010, it merged with Swisher Hygiene Inc. in a reverse takeover. The transaction gave Swisher Hygiene access to CoolBrands’ public-company status and balance sheet. Swisher, a money-losing sanitation company at the time, later used that structure for an acquisition program in 2011. The reverse takeover marked the effective end of CoolBrands International as an independent frozen-food and dessert operator.
- 2010
Reverse takeover by Swisher Hygiene
[1]CoolBrands’ remaining public shell merged with Swisher Hygiene Inc., ending its independent life as a frozen-food company.
- 2007
Major operating-asset disposals
[1]CoolBrands sold Eskimo Pie, Chipwich, its Direct Store Delivery business, Whole Fruit, and the Breyers yogurt business with a related manufacturing facility.
- 2005
Yogen Früz and franchise division are sold
[1]International Franchise Corp. acquired Yogen Früz and CoolBrands’ franchise division, including Swensen’s.
- 2004
Loss of Weight Watchers and Smart Ones licence
[1]The company lost the Weight Watchers and Smart Ones licence, a setback that contributed to financial difficulties.
- 2002
Acquisition of Chipwich
[1]CoolBrands acquired Chipwich as part of its expansion in frozen desserts.
- 2000
Acquisition of Eskimo Pie Corporation
[1]CoolBrands acquired Eskimo Pie Corporation, expanding its presence in frozen novelties.
- 1986
Yogen Früz is founded
[1]Michael Serruya and Aaron Serruya founded Yogen Früz, the frozen-yogurt business later associated with CoolBrands’ franchise and food operations.
Products and positioning
A North American branded frozen-food and dessert platform combining owned businesses, acquisitions, franchise operations, manufacturing, distribution, and licensed consumer brands.
Frozen novelty
Eskimo Pie
Eskimo Pie was a major frozen-novelty business acquired by CoolBrands in 2000. It became one of the company’s recognizable dessert assets before being sold to the Dreyer’s division of Nestlé in 2007.
Frozen dessert
Chipwich
Chipwich was a frozen dessert brand acquired by CoolBrands in 2002. It formed part of the company’s frozen-dessert portfolio and was sold alongside Eskimo Pie to the Dreyer’s division of Nestlé in 2007.
Yogurt
Breyers yogurt
CoolBrands acquired the Breyers yogurt business from Kraft Foods. The business included a 175,000-square-foot manufacturing facility in upstate New York and was sold to Catterton Partners in 2007.
Yogurt
Light ’N Lively yogurt
Light ’N Lively was among the yogurt brands acquired by CoolBrands from Kraft Foods. It represented the company’s expansion beyond frozen yogurt into broader refrigerated and cultured-food categories.
Frozen yogurt and franchise · 1986
Yogen Früz
Yogen Früz was a frozen-yogurt business founded by Michael Serruya and Aaron Serruya in 1986. It was associated with CoolBrands’ franchise operations until International Franchise Corp. acquired it in 2005.
Ice-cream restaurant chain
Swensen’s
Swensen’s was an ice-cream restaurant chain included in CoolBrands’ franchise division. The franchise division was sold to International Franchise Corp. in 2005.
Brand decisions
2010
Reverse takeover by Swisher HygieneM&ABackground
After selling its principal operating assets, CoolBrands remained a publicly traded shell.
Action taken
CoolBrands merged with Swisher Hygiene Inc. through a reverse takeover.
Aftermath
Swisher Hygiene obtained CoolBrands’ public listing and balance sheet and used the resulting structure for further acquisitions in 2011.
2007
Divest core operating assetsStrategyBackground
CoolBrands faced financial difficulties and moved to sell much of its food manufacturing, distribution, and brand portfolio.
Action taken
The company sold Eskimo Pie and Chipwich to Nestlé’s Dreyer’s division, its Direct Store Delivery business, Whole Fruit, and the Breyers yogurt business with a manufacturing facility.
Aftermath
The disposals stripped CoolBrands of most of its primary operating businesses and left it largely as a public corporate shell.
Sale price for Breyers yogurt business and manufacturing facility. $65 million (2007)
2005
Sell Yogen Früz and franchise divisionM&ABackground
CoolBrands was reducing the scope of its franchise activities after financial pressure and the loss of a major licence.
Action taken
International Franchise Corp. acquired Yogen Früz and the CoolBrands franchise division, including Swensen’s.
Aftermath
CoolBrands was separated from important franchise operations and continued its broader asset-reduction process.
2002
Acquire ChipwichM&ABackground
The company continued to build a broader frozen-food and dessert portfolio.
Action taken
CoolBrands acquired Chipwich.
Aftermath
Chipwich remained in the portfolio until its sale to the Dreyer’s division of Nestlé in 2007.
2000
Acquire Eskimo Pie CorporationM&ABackground
CoolBrands was expanding its frozen-dessert portfolio through acquisitions.
Action taken
The company acquired Eskimo Pie Corporation.
Aftermath
Eskimo Pie became part of the company’s operating portfolio until its sale in 2007.
Recent events
- 2010
CoolBrands merges with Swisher Hygiene through a reverse takeover[1]
M&A
The remaining publicly traded CoolBrands shell merged with Swisher Hygiene Inc., allowing the sanitation company to inherit CoolBrands’ public listing and balance sheet.
- 2007
CoolBrands sells Eskimo Pie and Chipwich[1]
M&A
The company sold the Eskimo Pie and Chipwich businesses to the Dreyer’s division of Nestlé as part of a broad disposal of its operating assets.
- 2007
CoolBrands disposes of major food and distribution assets[1]
M&A
CoolBrands sold its Direct Store Delivery business, Whole Fruit, and the Breyers yogurt business with a related manufacturing facility, substantially reducing its operating footprint.
- 2005
International Franchise Corp. acquires Yogen Früz and the CoolBrands franchise division[1]
M&A
International Franchise Corp. acquired Yogen Früz and CoolBrands’ franchise division, including the Swensen’s ice-cream restaurant chain.
- 2004
CoolBrands loses the Weight Watchers and Smart Ones licence[1]
Other
The company lost an important licensing relationship for Weight Watchers and Smart Ones products, contributing to financial pressure and the subsequent weakening of its operating portfolio.
Sources1 sources
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