Swensen’s said it won’t merge with Hobson’s.

The Phoenix-based operator of ice cream parlors declined to say why its proposed merger collapsed with Hobson’s International, a small ice cream chain, which has headquarters in Santa Barbara. An investor group headed by Alan Levine and Kimun Lee, who together control Hobson’s, had in October agreed to buy Swensen’s common shares, preferred shares and warrants for $6.96 million and then merge Hobson’s into Swensen’s.