STUART, Fla. (AFX) - NuCo2 Inc., a supplier of liquid carbon dioxide for carbonating and dispensing fountain drinks, on Tuesday signed a contract to supply restaurant chain Friendly Ice Cream Corp.
NuCo2 said the contract formalizes a long-term relationship between the companies. It covers 324 corporate and franchised Friendly Ice Cream locations and designates NuCO2 as the preferred CO2 supplier to all Friendly Ice Cream franchises.
Massachusetts-based Friendly Ice Cream is an operator and franchiser of more than 515 Friendly's restaurants in the eastern U.S.
Shares of NuCo2 fell 88 cents, or 3.4 percent, to close at $24.32 on the Nasdaq. The stock has traded in a 52-week range of $21.24 to $32.57. Shares of Friendly Ice Cream fell 1 cent to close at $8.16 on the American Stock Exchange.
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