Friendly Ice Cream buyout closes

WILBRAHAM Mass. Friendly Ice Cream Corp., parent of the Friendly’s family-dining brand, is now a holding of the private-equity firm Sun Capital Partners Inc. after a buyout valued at $337.2 million closed Thursday.

Each director of Wilbraham-based Friendly, including chairman Donald N. Smith and president and chief executive George M. Condos, resigned from their board seats in connection with the transaction. However, it is expected that the leadership team at

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