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| Rita's Italian Ice | |
| Company type | Private |
| Industry | Dessert shop |
| Genre | Quick Service |
| Founded | May 4, 1984; 40 years ago (1984-05-04) |
| Founder | Bob Tumolo |
| Headquarters |
Trevose, Pennsylvania, U.S.
|
Number of locations | 540 |
Area served | 31 U.S. states, mainly in the Mid-Atlantic |
Key people | Kirk Griswold, Chairman Linda Chadwick, President & CEO |
| Products | Italian ice frozen custard frozen treats |
| Revenue |  US$51 million (2019) |
| Owner |
|
Number of employees | 5,000 (2021) |
| Website | ritasice |
Rita's Franchise Company, LLC, doing business as Rita's Italian Ice (originally and now informally known as Rita's Water Ice), is a privately owned and operated American quick service restaurant chain originating in the Philadelphia metropolitan area that expanded throughout and now operates primarily in the Mid-Atlantic United States. The chain is known for its Italian ice or "water ice"[1] and frozen custard,[2] but also offers multiple types of frozen treats and specialty creations.[3]
Rita's opened its first restaurant in 1984 in Bensalem Township, Pennsylvania, a township outside of Philadelphia, and the company gradually expanded throughout the Philadelphia region before eventually opening locations beyond the Philadelphia area. The company is currently headquartered in Trevose, Pennsylvania. As of January 27, 2022[update], the chain had 538[4] restaurants in 31 states, mostly located in the Mid-Atlantic.
Rita's was founded in May 1984[5] by former Philadelphia firefighter Bob Tumolo with a recipe that his mother made that he then adjusted to enhance the flavors and include real fruit. Tumolo named the restaurant after his wife, Rita Tumolo.[6] Rita's originally advertised its product as "water ice", using the Philadelphia regional term for what is sometimes called "Italian ice" in other areas of the country. By the summer of 1984, Bob had opened his second store on the opposite side of Pennsylvania, Lake Erie. In 1989, the family decided to franchise their business, and there are now over 600 locations in 30 states[citation needed] and Washington, D.C. that serve 45,000 people daily.
In May 2005, the company was sold to McKnight Capital Partners, a private equity group with extensive franchise experience.[7][8] McKnight Capital Partners recognized the organization's growth potential and set into place plans to expand the company.[3]
In April 2007, Rita's moved its Bensalem Township, Pennsylvania headquarters to Trevose, Pennsylvania.[9]
In 2011, Falconhead Capital purchased a controlling interest in the company from an investment group led by Jim Rudolph. Falconhead named their operating partner Thomas Christopoul as the new chairman and interim chief executive.[10]
In 2013, Rita's opened its first location outside of the United States in Shenzhen, China.
Rita's has traditionally given out a free regular-sized Italian ice or water ice on the first day of Spring from 1984 to 2019, and since 2022.[11] Rita's did not host a free water ice day on the first day of Spring in 2020–21, due to the COVID-19 pandemic.
In January 2017, Argosy Private Equity and MTN Capital acquired controlling stake in Rita's from Falconhead Capital.[12]
In 2010, Rita's Italian Ice began a partnership with Just Born to offer a seasonal Peeps Brand Marshmallow Candy flavored ice.[13] The Peeps flavor was discontinued in 2011, but was offered in some stores in spring 2017.
Rita's partnered with Cadbury in July 2009 to introduce its Swedish Fish Italian ice flavor.[citation needed] On June 29, 2012, Rita's partnered with Cadbury again to release its Sour Patch Kids Red water ice flavor.[citation needed]
Other companies involved in Rita's water ice flavors include Alex's Lemonade Stand ("Alex's Lemonade" water ice) and Nabisco ("Oreo Cookies and Cream" cream ice and "Mint Oreo" cream ice).[citation needed]
