Wells Enterprises acquires Fieldbrook Foods in US

US-based ice cream manufacturer Wells Enterprises has acquired Fieldbrook Foods from Arbor Investments for an undisclosed sum.

Fieldbrook Foods offers frozen novelty and ice cream products.

It operates two manufacturing facilities, one in Dunkirk and the other in Lakewood, New Jersey.

The deal is expected to further increase Wells’ manufacturing capacity, as well as help to strengthen its footprint in the East Coast region and boost its ability to meet future demand.

Wells Enterprises president and CEO Mike Wells said: “The combination creates a stronger platform for growth and positions us to better serve our customers, as well as providing a more geographically diverse footprint for us.

“We’re excited for the future and growing our business together.”

Together, the two companies are expected to produce nearly 200 million gallons of ice cream and employ more than 3,800 people in the region.

For this deal, UBS Investment Bank acted as financial adviser to Wells, with McDermott Will & Emery serving as legal adviser.

Wells further added: “We have confidence in the local Fieldbrook team, and are excited to have them join Wells.

“We’re focused on our shared commitment of quality, service and food safety and look forward to continuing to fulfil Wells’ purpose of bringing joy to everyday life because of the love of ice cream.”

With two manufacturing plants in Le Mars, Iowa, Wells Enterprises produces more than 150 million gallons of ice cream per year and distributes its products across the US.

Its product portfolio includes brands such as Blue Bunny, the iconic Bomb Pop, Blue Ribbon Classics and its newest brand, Chilly Cow.