The Oklahoma City-based owner of Dippin' Dots, a popular frozen treat you can find at theme parks, malls, fairs, festivals, movie theaters, stadiums and arenas, has agreed to sell the company to another snack foods maker for a sweet amount of money.

On Thursday, J&J Snack Foods Corp. announced it agreed to acquire the company for $222 million.

The deal is expected to close just 10 years after Dippin' Dots LLC, formed by then-Chaparral Energy CEO Mark Fischer and his son, Scott, acquired the Kentuckys company out of bankruptcy for just $12.7 million.

The Fischers said at the time they saw room for the business to grow, and they put their plan in action by expanding the product's sales to retail grocery and convenience stores.

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In 2014, Dippin’ Dots also acquired gourmet popcorn franchisor Doc Popcorn — also is changing hands as part of J&J's acquisition — in a move that created opportunities for co-branded “Dippin’ Dots and Doc Popcorn” locations.

Today, Dippin' Dots is a global brand, with licensing agreements in seven countries outside of the United States.

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Once the sale closes, the Fischers said they will continue to own and develop Cryogenic Processors LLC, a company engaged in developing cryogenic processes and ingredients used in other industries beyond ice cream, including pharmaceutical, cosmetics and plant-based foods.

“Dippin’ Dots aligns perfectly with J&J’s portfolio strategy by adding an iconic, differentiated brand that uniquely complements our frozen novelty and frozen beverage businesses," said Dan Fachner, J&J Snack Foods' CEO.                                                                                                                                                                                           

"We believe J&J Snacks Foods is well-positioned to leverage our unique offering in the market and improve and grow the business going forward,” said Scott Fischer, CEO of Dippin’ Dots.

Business Writer Jack Money covers Oklahoma’s energy and agricultural beats for the newspaper and Oklahoman.com. Contact him at jmoney@oklahoman.com. Please support his work and that of other Oklahoman journalists by subscribing to The Oklahoman.

This article originally appeared on Oklahoman: Dippin' Dots sale scoops local Oklahoma City owner heaping profits