Ritter’s Sold? Tru!

Sometimes, in order to truly reach your potential, you have to leave behind the familiar for the unknown.

The Indianapolis Business Journal reported the family owners of Ritter's Frozen Custard have agreed to sell the popular homegrown chain to New York-based TruFoods LLC for an undisclosed price.

"We're extremely excited," said Bob Ritter, son of founder John Ritter and the current CEO of parent company RFC Franchising LLC. "It'll give us the resources to grow the concept." Ritter said the chain's headquarters and most of its staff will remain in Indianapolis.

The first Ritter's store was a hit when it opened in 1989 but Ritter's has struggled in recent years with growing pains and increased competition. Franchisees have closed several stores, including locations in central Indiana.The chain now has more than 40 stores in eight states, primarily in the Midwest.

TruFoods has three restaurant brands in its stable: Arthur Treacher's Fish & Chips, Pudgie's Famous Chicken and Wall Street Deli. Co-branded locations with Ritter's are possible, Ritter said, but the prospect hasn't been discussed in detail.