Schwimmer's video parodying the original CCTV image has been viewed tens of millions of times across his social media accounts.
On Tuesday, Lancashire Police posted an update on the investigation into the alleged theft in the resort on September 20.
Police said they had identified the suspect in October and tweeted a thank you message to those who helped the CCTV image go viral.
The Lancashire police thanked the public and specially thanked Schwimmer for his support.
Officers in Lancashire, England, announced on Twitter that a 36-year-old suspect had been taken into custody in west London on suspicion of theft.
"Most importantly, we're now satisfied we've identified the man in the still and our enquiries are very much continuing".
Schwimmer himself later joined in the fun, sharing a spoof video re-enactment proclaiming his innocence.
The clip shows the actor wearing similar clothes to the suspect as he walks through a shop clutching the beers. "As you can see, I was in NY", he wrote.
Blackpool police noted in a statement: "Following the appeal we posted looking for a man who resembles a well-known actor from the popular sitcom Friends; we now have an update".
A significant breakthrough has been made in one of the most attention-grabbing and widely shared police manhunts in recent British history.
The Met Police replied to the tweet, making reference to the Friends theme song I'll Be There For You.