Wetzel's Pretzels
American fast-food chain specializing in soft pretzels, pretzel-based snacks, hot dogs, and lemonade.
Last updated August 22, 2026
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Overview
Wetzel's Pretzels is an American fast-food restaurant chain built around freshly prepared soft pretzels and related snack foods. The business was founded in 1994 in Pasadena, California, by Rick Wetzel and Bill Phelps. Its first restaurant opened at the South Bay Galleria in Redondo Beach, establishing a compact, mall-oriented format that became central to the brand's identity. The chain's name was inspired by childhood taunts directed at Rick Wetzel, giving the business a personal and informal origin story rather than a name derived from a geographic location or a traditional bakery lineage. The brand's core proposition is highly focused: customers can purchase warm, handheld pretzels in both savory and sweet formats, often with a drink or a pretzel-based hot-dog product. Its menu includes the Wetzel's Original pretzel in salted or unsalted versions, cinnamon-sugar pretzels, pepperoni pretzels, and smaller pretzel pieces marketed as Bitz. The chain also sells Wetzel Dogs, which are all-beef hot dogs wrapped in pretzel dough, together with Dog Bites and Cheesy Dog Bites. Lemonade is another important part of the offer, including fresh and frozen varieties in original and strawberry flavors. Other beverages include granitas and drinks with boba-style popping pearls. Wetzel's expanded its footprint through locations in high-traffic venues such as shopping malls, airports, theme parks, stadiums, and food trucks. In 1997, Wetzel and Phelps brought in additional investors, including John Davis and Gary L. Wilson. Wilson's connections with Disney helped the chain secure locations at Disneyland and Walt Disney World, increasing the brand's exposure in major leisure and tourism environments. This venue strategy complemented the original mall model by placing the chain where customers were seeking portable snacks and quick service. Ownership changed as the company grew. Levine Leichtman Capital Partners, a Los Angeles-based private-equity firm, acquired a majority stake in 2007. Bill Phelps retained a reported minority interest of 20 percent, while Rick Wetzel retained a smaller stake. In October 2016, Levine Leichtman sold its majority position to Dallas-based CenterOak Partners. The company also experienced a leadership transition in 2019, when Jennifer Schuler succeeded Bill Phelps as chief executive officer. In December 2022, MTY Food Group acquired Wetzel's Pretzels for $207 million. The transaction placed the chain within a larger multi-brand restaurant group while preserving Wetzel's Pretzels as a distinct consumer-facing brand. Reference material describes the chain as having more than 370 locations across the United States and selected international markets, with its restaurants concentrated in venues suited to impulse purchases and portable food. Its current identity remains centered on accessible indulgence, visual food preparation, a narrow but adaptable menu, and the convenience of a snack format that works across malls, entertainment destinations, transportation hubs, and mobile units.
History
Wetzel's Pretzels began in 1994 when Rick Wetzel and Bill Phelps founded the company in Pasadena, California. The first store opened at the South Bay Galleria in nearby Redondo Beach. From the outset, the brand used a focused quick-service concept: freshly prepared soft pretzels served in a setting designed for mall traffic and portable eating. The company name came from childhood taunts associated with Rick Wetzel, giving the chain a distinctive personal name. The business broadened its ownership and growth resources in 1997, when the founders accepted investment from several parties, including John Davis and Gary L. Wilson. Wilson's Disney relationships helped the company obtain locations at Disneyland and Walt Disney World. These placements introduced the brand to large visitor populations and supported its development beyond conventional shopping malls. Over time, Wetzel's Pretzels also appeared in airports, stadiums, theme parks, and food trucks, all of which fit a product designed for quick purchase and consumption while walking or attending an event. The menu developed around more than the standard pretzel. The brand offered the Wetzel's Original in salted and unsalted versions, sweet cinnamon-sugar variations, pepperoni pretzels, and smaller Bitz products. Pretzel dough was also used to wrap all-beef hot dogs in the Wetzel Dog line, with bite-sized Dog Bites and Cheesy Dog Bites providing additional snack formats. Fresh and frozen lemonade became a recognizable beverage pairing, supplemented by strawberry lemonade, granitas, and drinks featuring boba-style popping pearls. In 2007, Levine Leichtman Capital Partners acquired a majority interest in the company for an undisclosed amount. The transaction did not eliminate the founders' connection to the business: reference material states that Bill Phelps retained a 20 percent share and Rick Wetzel retained a smaller interest. After nine years of majority ownership, Levine Leichtman sold its stake in October 2016 to CenterOak Partners, a private-equity firm based in Dallas. A management transition followed in 2019, when Jennifer Schuler succeeded Phelps as chief executive officer. The most significant subsequent ownership event occurred in December 2022, when MTY Food Group purchased Wetzel's Pretzels for $207 million. The acquisition made Wetzel's part of MTY's broader restaurant portfolio while leaving the chain's consumer proposition intact. Reference material describes the brand as having more than 370 locations across the United States, Canada, Central America, and Southeast Asia, with Finland identified as a former market. Its operating model remains oriented toward high-footfall venues and relatively simple, portable food. The chain's history therefore combines founder-led creation, venue-based expansion, private-equity ownership changes, professional management, and eventual integration into a larger restaurant group.
- 2022
MTY Food Group completes acquisition
[1]MTY Food Group acquired Wetzel's Pretzels in December for $207 million.
- 2019
Jennifer Schuler becomes CEO
[1]Jennifer Schuler succeeded co-founder Bill Phelps as chief executive officer.
- 2016
CenterOak Partners becomes majority owner
[1]Levine Leichtman Capital Partners sold its majority position to CenterOak Partners in October.
- 2007
Levine Leichtman Capital Partners acquires a majority stake
[1]The Los Angeles private-equity firm acquired majority ownership of Wetzel's Pretzels.
- 1997
Outside investors join the company
[1]The founders brought in investors including John Davis and Gary L. Wilson, whose Disney connections supported expansion into Disneyland and Walt Disney World.
- 1994
Wetzel's Pretzels is founded
[1]Rick Wetzel and Bill Phelps founded the chain in Pasadena, California.
- 1994
First location opens
[1]The first restaurant opened at the South Bay Galleria in Redondo Beach, California.
Products and positioning
A convenient, indulgent snack and quick-service restaurant brand focused on warm soft pretzels, portable pretzel-based foods, and complementary beverages in high-traffic entertainment, retail, transportation, and event venues.
Soft pretzel
Wetzel's Original
The chain's core full-sized soft pretzel, available in salted or unsalted form. It represents the simplest expression of the brand's offering and is designed as a handheld snack for mall, theme-park, airport, and event customers.
Flavored soft pretzel
Specialty pretzels
The menu includes flavored and topped pretzels such as cinnamon-sugar and pepperoni versions. These products extend the base dough into sweet and savory snack occasions while retaining the brand's quick-service preparation model.
Pretzel bites
Bitz
Bitz are smaller, more snackable pieces of pretzel dough. The range includes Original, Cinn-a-bitz, and Pizza Bitz, with the latter incorporating pepperoni flavors.
Pretzel-wrapped hot dog
Wetzel Dog
An all-beef hot dog wrapped in pretzel dough. The product broadens the brand from a bakery-style snack into a more substantial handheld meal while using the chain's signature dough.
Hot-dog snack
Dog Bites and Cheesy Dog Bites
Bite-sized versions of the pretzel-and-hot-dog concept, including a cheese-oriented variation. These products are suited to sharing, sampling, and customers seeking smaller portions.
Beverage
Lemonade
Wetzel's offers fresh and frozen lemonade, including original and strawberry flavors. Lemonade is a principal beverage pairing for the chain's salty and sweet pretzel products.
Frozen and specialty beverage
Granitas and popping-pearls beverages
Additional drinks include granitas and beverages with boba-style popping pearls. Reference material identifies Wetzel's as the first restaurant in the snack category to introduce popping pearls, including cherry and mango flavors.
Brand decisions
2022
MTY Food Group acquires Wetzel's PretzelsM&ABackground
Wetzel's Pretzels operated as an established international snack chain with a presence in the United States and selected overseas markets.
Action taken
MTY Food Group acquired the brand in December 2022 for $207 million.
Aftermath
Wetzel's Pretzels became part of MTY Food Group's multi-brand restaurant portfolio while continuing to operate under its own brand identity.
Acquisition price. $207 million (December 2022)
2016
CenterOak Partners acquires majority positionM&ABackground
Levine Leichtman Capital Partners had held the majority stake for approximately nine years.
Action taken
The majority position was sold to Dallas-based CenterOak Partners in October 2016.
Aftermath
CenterOak became the chain's majority financial owner before the later sale to MTY Food Group.
2007
Levine Leichtman Capital Partners acquires majority stakeM&ABackground
Wetzel's Pretzels had developed a multi-location quick-service concept centered on malls and other high-footfall venues.
Action taken
Levine Leichtman Capital Partners acquired majority ownership; the purchase price was not disclosed in the reference material.
Aftermath
The transaction began a period of private-equity majority ownership that lasted until 2016.
1997
Use investor relationships to expand into Disney venuesStrategyBackground
Wetzel's Pretzels was seeking additional high-traffic locations beyond its initial mall base.
Action taken
After taking on investors including Gary L. Wilson, the company used Wilson's Disney connections to open locations at Disneyland and Walt Disney World.
Aftermath
The move extended the chain into major theme-park destinations and reinforced its venue-based expansion model.
Recent events
- Unconfirmed
Wetzel's Pretzels opens a kiosk at Macy's South Coast Plaza[2]
Reported:
Wetzel's Pretzels opened a bakery kiosk inside Macy's South Coast Plaza in Costa Mesa, California; it is the first Wetzel's Pretzels kiosk in a Macy's store.
Wetzel's Pretzels announces franchise opportunity with Phillips 66[3]
Reported:
Wetzel's Pretzels announced a franchise opportunity with the Phillips 66 family of brands, building on locations at 76 convenience stores.
Wetzel's Pretzels announces planned Victoria Gardens store[4]
Reported:
Wetzel's Pretzels announced a planned second location at Victoria Gardens in Rancho Cucamonga; the corporate store was scheduled to open later in summer 2021.
Wetzel's Pretzels launches veteran franchisee discount program[5]
Reported:
Wetzel's Pretzels launched the From Force to Franchise program, offering qualified military veterans discounts on initial franchise fees for traditional and non-traditional locations.
Sources5 sources
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