Retirees John and Max (Lemmon and Matthau) are lifelong friends and rivals, either arguing seemingly just to pass the time, or else trying to one-up each other in their favorite hobby - ice fishing. This dynamic gets pushed into overdrive with the arrival in town of Ariel Truax (Ann-Margret), a beautiful (and single) college professor. As both men vie for her attention, they are forced to answer difficult questions about their families, their personal history, and the nature of their friendship.

The film's writer and native Minnesotan Mark Steven Johnson based the characters partially on his own grandfather, with both Jack Lemmon and Walter Matthau in mind for the two leading roles. Once Jack Lemmon joined the project, he had to convince Walter Matthau to accept the role of “Max” for the pair’s sixth feature film collaboration, as Matthau originally disliked the screenplay. Director Donald Petrie suggested Sophia Loren to play “Ariel", and although Ann-Margret was ultimately cast in the role, Loren later joined the principal cast for the 1995 sequel, Grumpier Old Men.

There is no charge for the film, and donations will be accepted to help defray the cost of showing the films. The movie and popcorn are free; wine, beer, pop and water will be for sale. Seating is provided, but film fans can bring their own floor pillows, portable chairs, or whatever is comfortable for viewing the film.