Penguin’s Place Acquired by Bresler’s Industries

Penguin’s Place Inc., a Thousand Oaks frozen yogurt company, has been acquired by Bresler’s Industries Inc., a Chicago franchiser of ice cream and frozen yogurt shops and cafes.

Terms of the sale were not disclosed. Penguin’s was previously owned by Zausner Foods Corp., a New Holland, Pa., cheese and yogurt producer owned by Bongrain S.A., a French dairy foods concern.

The 10-year-old Penguin’s, which has 65 franchised and two company-owned stores in its chain, emerged from Chapter 11 bankruptcy protection last year. Before the bankruptcy filing, it had 123 stores in its chain. It expects sales of about $13 million this year.

Bresler’s annual sales are about $45 million.

Two full-time Penguin’s executives are expected to remain in California, but the corporate headquarters will relocate to Chicago. Penguin’s President Stephen Van Velkinburgh, a former Haagen-Dazs executive hired to help shepherd the company through bankruptcy, will continue as an adviser to the company. Six employees are being laid off. Approximately 700 workers are employed at the Penguin’s stores.

Bresler’s said it plans to expand the number of Penguin’s stores in California and other areas of the country. It also plans to introduce new products, such as ice cream.