Friendly agrees to $337M buyout by Sun Capital affiliate

WILBRAHAM Mass. Friendly Ice Cream Corp., parent of the 515-unit Friendly's family restaurant chain, said Sunday it had agreed to be acquired by an affiliate of private-equity firm Sun Capital Partners Inc. for $15.50 per share, or $337.2 million in total consideration.

Friendly has said since March that it was seeking strategic alternatives, while battling with activist investor and Western Sizzlin chairman and chief executive Sardar Biglari. Through Western

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