"After decades at the helm, owner George Pennini sold the town's Dairy Queen for $4.2 million to his two nieces, ensuring the next generation keeps the soft-serve traditions going. It was one of the highest-priced sales ever achieved for a Dairy Queen asset, according to the brokers Marcus & Millichap. This location ranks as the second-highest-grossing "Treat Only" Dairy Queen franchise in the United States and is the most-visited Dairy Queen in Massachusetts by annual foot traffic, the brokers said."
"A "Treat Only" location focuses only on frozen desserts and treats, such as Blizzards, cones, sundaes, and shakes. The property features the iconic barn-like style structure, surrounded by parking on a less than an acre site at 7 East Grove St. According to the brokers, the store first opened in 1952 and has been operating ever since. Nemasket Week reports that the store first joined the family in 1966 when John Pennini purchased it."
"Town assessor records show that George Pennini bought the establishment from his father in 1978. The brokers in a message to Boston.com said George Pennini decided it was time to sell last year and to start his "well-earned" retirement. The new owners include sisters Nicole Pennini Ferrara and Kara Pennini Kendrigan. "We're so thrilled to keep it in the family," Ferrara told Nemasket Week. Kendrigan agreed, telling the local paper that they intend to "protect the traditions" that they've built in the community."
""It is a privilege to take the torch from (Pennini) and lead this store into its next chapter," she told Nemasket Week. The new owners declined to speak further on the sale. Dairy Queen, based in Minneapolis, Minn., operates a franchise system with more than 7,800 locations across more than"
George Pennini sold the Middleborough Dairy Queen “Treat Only” for $4.2 million to his nieces, Nicole Pennini Ferrara and Kara Pennini Kendrigan. The sale keeps the soft-serve traditions in the family and supports continued operation of the iconic barn-like location at 7 East Grove St. The property is a high-performing franchise, ranking among the top “Treat Only” Dairy Queen locations nationally and as the most visited in Massachusetts by annual foot traffic. The store opened in 1952 and has operated continuously, joining the Pennini family in 1966 and being purchased by George in 1978. The new owners plan to protect established community traditions.
Read at Boston.com
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