Five-cup-a-day coffee drinker Paul Friel, the former Wawa and Sunoco executive who now runs the Broomall-based Swiss Farms chain of a dozen Delaware County drive-up dairy stores - plus a brand new expansion in Charlotte, N.C. -now has an additional job: He's also CEO of the two-dozen-store Saxbys coffee shop chain. "I've always loved the coffee business," Friel told me. "It was a great opportunity."
Swiss Farms' owner, veteran Radnor investor Robert E. Brown Jr.'s MVP Capital Partners, paid less than $2.6 million in cash and debt payments for the chain, to former Saxbys owner Joseph Grasso, the Philadelphia developer, according to people familiar with the terms.
The deal, consummated this Spring, hasn't been officially announced, though Friel just told me he's working on a press release, after confirming the sale.