Philly Pretzel Factory acquires pretzel cone manufacturing company

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Philly Pretzel Factory has acquired Cone Guys, a Bristol, Pa.-based pretzel cone manufacturer, to diversify its portfolio into desserts.

Founded in 1994, Cone Guys’ pretzel cone has become a staple in ice cream shops nationwide, including sprinkle-coated, chocolate, and chocolate chip varieties, distributed through supermarkets, ice cream retailers, and third-party channels such as Amazon, Walmart, and Webstaurant. The pretzel cone now represents the majority of Cone Guys’ business.

“This acquisition represents a natural extension of our brand,” Philly Pretzel Factory chief executive officer Dan DiZio said in a statement. “Cone Guys’ pretzel cone is a proven, high-quality product with strong consumer appeal. Bringing it under the Philly Pretzel Factory umbrella allows us to expand its reach and explore new growth opportunities in the frozen dessert category.”

Cone Guys was founded by Ian Cooper and later operated by longtime owner Mike Williamson, who helped scale its Bristol-based manufacturing operations. Under the new ownership, Cone Guys will continue to produce its products in Bristol, with plans for new innovations and expanded branding in the near term.

Philly Pretzel Factory has more than 170 locations nationwide. The company said the addition of Cone Guys strengthens its manufacturing capabilities while opening doors to ice cream partnerships, retail expansion, and cross-promotional opportunities.

Terms of the transaction were not disclosed.

The deal represents growing activity in the mergers and acuisitions space after a relatively quiet 2024 and early 2025. Potbelly was just acquired by c-store operator RaceTrac, for instance. Last week, Freddy’s Frozen Custard & Steakburgers was acquired by investment funds affiliated with private equity firm Rhône from Thompson Street Capital Partners. Sadot Group — a food supply chain company — is divesting from its restaurant businesses, including Pokemoto and Muscle Maker Grill. According to the letter of intent, Sadot Group will be selling both brands for $4.25 million, though the company did not reveal the identity of the buyer. Meanwhile, BT Brands merged with Aero Velocity, Philz Coffee was sold to Freeman Spogli last month, and Shipley Do Nuts was sold to Levin Leichtman in July.

Contact Alicia Kelso at [email protected]

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