Brice Foods was sold in 1996 to Yogen Früz of Toronto, Canada, and the founders were no longer involved in the company.
[citation needed] I Can't Believe It's Yogurt was founded in 1977 by Bill and Julie Brice from Dallas, Texas.
In 1999, several Brice Foods executives were sued for investment fraud and conspiracy by investors in international franchise operations.
[3] The allegations related to Brice Foods' misappropriation of investor funds and defaulting on promissory notes back to 1992, and the flow of money to top company executives of Brice Foods.
[4] A state court trial in San Antonio, Texas found the executives not liable on all counts.