The company was founded in 1948 by Earle Swensen, who learned to make ice cream while serving in the U.S. Navy during World War II.

[2] Swensen opened his first shop at the corner of Union and Hyde Streets, along the cable car tracks in Russian Hill in San Francisco at what had been a failed ice cream parlor.

U.S. stores continued to close until only three were left, including the original San Francisco ice cream parlor and the main restaurant in Miami.

IFI also owns such notable brands as Yogen Früz, I Can't Believe It's Yogurt (ICBY), Golden Swirl, Yogurty's, Dreamery and Bresler's Ice Cream.

Seinfeld's "George Costanza" eats Swensen's ice cream after his tonsils are fully removed in the episode, "The Heart Attack."