Kill Devil's Frozen Custard on the Outer Banks Sold to the Perfect Buyers
MidStreet Mergers & Acquisitions, a business brokerage firm representing privately-held businesses throughout the South East, has successfully completed the sale of Kill Devils Frozen Custard and Beach Fries, a famous frozen custard and family restaurant in Kill Devil Hills, NC.
About the Company
Known for its delicious Frozen Custard and beach fare, Kill Devil’s is a favorite of tourists and locals alike. Over its many years in business, Kill Devil’s has received local and national awards, including being named one of the ten best ice cream shops on the beach by Coastal Living magazine and awarded the Trip Advisor’s Certificate of Excellence three years in a row.
Previous owners Mike and Kathy Wiechec bought the business in 2005 and grew it into one of the Outer Bank’s most recognized brands. After 13 years of owning, developing, and running Kill Devils, they decided they were ready to sell the business to new owners and relocate.
“We were a little burnt out on running the business, so Duane and Michelle bring a new perspective and new energy to take things to the next level,” said Kathy Wiechec.
As of March 28th, 2018 Duane and Michelle Gilespie are now the proud owners of Kill Devil’s Frozen Custard and Beach Fries.
Meeting the New Buyers
Duane comes to the business with extensive experience in the food service industry. After 15 years working with Outback Steakhouse, Duane joined then startup, Sweet Frog frozen yogurt for four years as their Director of Operations, opening new stores throughout North Carolina and Virginia.
“For years we’ve vacationed on the Outer Banks – from the time our kids were little – and we’d always go to Kill Devils. Kill Devil’s was always on the list no matter where we were staying on the Outer Banks. The opportunity to buy the business was very intriguing to us.”
For Duane and his family to receive funding from the Small Business Administration to purchase the business they had to establish proof of residency in North Carolina. They sold their home in Virginia, packed their belongings, and headed to the Outer Banks.
“We had to ask ourselves, how many times in our lifetime will this opportunity come up? We know the place, we love the place, and we know the business. So, we’re beyond thrilled to have the opportunity to do this.”
The sale was completed by Jeffery Baxter, President of MidStreet Mergers and Acquisitions.