Massachusetts Dairy Queen Sells for Stunning $4.2 Million

What can you buy for $4.2 million at the Middleboro Dairy Queen? The entire business.

That's just what happened. Don't worry, though, the beloved "Treat Only" location at 7 East Grove Street will remain open and in the family.

Many date nights and family outings have included visits to the town’s only Dairy Queen since its 1952 opening.

The Pennini Family’s Long Dairy Queen Legacy

Nemasket Week reported, "George Pennini, who has owned the business since 1978, recently sold the Dairy Queen to his nieces, Nicole Pennini Ferrara and Kara Pennini Kendrigan, along with their spouses, Mike Ferrara and Joe Kendrigan."

Jon Pennini bought the business in 1966, the beginning of a family legacy.

John Pennini "sold the venture to his sons, George and John, in 1978," according to Nemasket Week. "John sold his share in 1987 to George, who ran it until the recent sale to his nieces."

A Record-Breaking Dairy Queen Sale

Boston.com reported, "This was the highest-priced sales ever achieved for a Dairy Queen asset, according to the brokers, Marcus & Millichap."

"This location ranks as the second-highest grossing 'Treat Only' Dairy Queen franchise in the United States and is the most-visited Dairy Queen in Massachusetts by annual foot traffic," the brokers told Boston.com.

What Makes a ‘Treat Only’ Dairy Queen Different?

A Dairy Queen "Treat Only" store is a specialized DQ location that serves only frozen desserts and treats, not a full menu of meals.

The Surprising New Bedford Connection to Dairy Queen

Dairy Queen, founded in 1940, is headquartered in Bloomington, Minnesota. Dairy Queen's parent company, Berkshire Hathaway, may sound familiar, and it should. It was founded in New Bedford, Massachusetts, by Horatio Hathaway in 1888. Yet there is no DQ in New Bedford. What's up with that?