Food Business News - April 30, 2019 - 14

Wells Enterprises acquires
private label ice cream maker

Permissible indulgence
and healthier lifestyle
foods are two major
trends driving the ice
cream industry.

©EXCLUSIVE-DESIGN - STOCK.ADOBE.COM

WELLS ENTERPRISES

LE MARS, IOWA - Wells Enterprises, Inc., the
third-largest ice cream manufacturer in
the United States, has acquired Fieldbrook
Foods from Arbor Investments. Financial terms of the transaction were not
disclosed.
Wells Enterprises' acquisition of
Fieldbrook is part of the company's
long-term growth strategy, said Michael
C. Wells, president and chief executive
officer of Wells Enterprises.
"Ice cream is a challenging category
... it continues to grow in dollars and is
relatively flat in per capita consumption
and pound produced," Mr. Wells told Food
Business News. "In that environment, you've
either got to go steal share or you've got
to acquire it. We've done our fair share of
growth through stealing share - we've got
a combined annual growth rate of about
5.7% - but the opportunity to consolidate
and get some additional assets under our
ownership as well as drive capital and
growth as a result is definitely a part of
our overall strategy; so is a combination of
organic and M.&A. work to continue to fuel
our need for growth and our desire to grow."
Headquartered in Dunkirk, N.Y.,
Fieldbrook is a private label and co-manufacturer of ice cream and frozen novelty
products, including ice cream sandwiches, cups, cones and stick novelties. The
company, led by former Schwan's Co. chief
financial officer Robin Galloway, has been
controlled by Arbor Investments since
2010. Under Arbor's ownership Fieldbrook's revenues increased nearly 70%,
and the company acquired Mister Cookie
Face and Washburn Dairy.
The acquisition is expected to give

14

Food Business News

Wells Enterprises a strategic footprint on the
East coast. Fieldbrook operates manufacturing facilities in Dunkirk and Lakewood, N.J.,
and distributes its products in all 50 states
and Puerto Rico. The company produces
more than 120 million frozen novelties and
25 million gallons of ice cream a year.
"Prior to this acquisition, everything
we produced was right here in Le Mars,
Iowa," Mr. Wells said. "We operate the
biggest under-one-roof ice cream plant

Michael C. Wells, Wells Enterprises

in the world here as well as our initial
flagship plant downtown. We've found
that the concentration in the Midwest has
been great for our Midwest business, but
we've been challenged as we've grown
to the East and to the West. As we have
continued to add lines to our current
facilities, we're within a couple of lines of
being absolutely tapped out in regards to

our capacity and our ability to grow. 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."
Founded in 1913 by Fred H. Wells,
Wells Enterprises produces more than 150
million gallons of ice cream per year at
two manufacturing plants in Le Mars and
distributes product in all 50 states. The
company's signature brand is Blue Bunny,
with other brands including Bomb Pop,
Blue Ribbon Classics and Chilly Cow.
Last year, Wells Enterprises launched
two new product lines that Mr. Wells said
embody the two major trends driving the
ice cream industry: permissible indulgence and healthier lifestyle foods.
The first was Blue Bunny Load'd
Sundaes, which debuted in February
2018. The 8.5-oz soft serve-based desserts
launched with 8 varieties and have grown
to 16, including cookie crunch and fudge,
peanut butter marshmallow and strawberry shortcake. Each sundae is a "very
indulgent, 'no apology for 450 to 600
calories for me' kind of dessert option,"
Mr. Wells said.
In March 2018, Wells launched Chilly
Cow, a high-protein, low-fat, low-calorie
ice cream made with ultra-filtered milk.
The treat comes in such flavors as mocha
espresso swirl, malted vanilla chocolate
pretzels and brown butter salted caramel.
"These are continued divergent
trends," Mr. Wells said. "So we have a group
of consumers who are looking not for
better-for-you as much as they are lifestyle
foods. They're looking for things that are
free-from, that meet the lifestyle needs and
desires of the ever-changing millennial and
now Gen Z consumer. And then there's still
a whole bunch of people that look at the
ice cream category not for health, but they
look at it for indulgence. The trend that we
really see is that consumers will spend all
week long exercising and eating healthy
and then be a little more indulgent on the
weekends. So we are playing to both trends:
the permissible indulgence trend as well as
the health trend. Those seem to be the two
areas that are really driving the ice cream
category." FBN
April 30, 2019


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Food Business News - April 30, 2019

Table of Contents for the Digital Edition of Food Business News - April 30, 2019

Food Business News - April 30, 2019
WASHINGTON - F.D.A. to exclude rare sugar from counting as added sugar
Contents
FROM THE EDITOR - U.S. agriculture in need of a youth movement
Kraft Heinz names new c.e.o. amid company challenges
Tyson exits investment in Beyond Meat, plans to launch alternative protein product
Hershey’s forthcoming innovation stays close to the core
Hershey unveils new leadership team
Morton Sosland dies at 93
Coke brand ventures beyond Zero Sugar
Wells Enterprises acquires private label ice cream maker
Mondelez International invests in paleo snack company
Food remains a point of weakness in Unilever’s portfolio
Unilever to add supplement maker to portfolio
Taylor Farms acquires Earthbound Farm from Danone
Butterfly Equity to buy Bolthouse Farms from Campbell Soup Co.
MARKET INSIGHT - Organic sales double over five-year time span
INGREDIENT TRENDS - VEGAN is trending in the plant-based space
INGREDIENT INNOVATIONS - Going bold to break through in meat flavors
BEVERAGE BUSINESS NEWS - Getting half-pint’s approval
Highlights from SupplySide East
NEW ON THE SHELVES
Ingredient Market Trends - Canadian farmers to plant more wheat and oats but less canola in 2019
INGREDIENT MARKETS
SUPPLIER INNOVATIONS
CLASSIFIEDS
MARKETPLACE
Ad index
Food business in the news
Food Business News - April 30, 2019 - WASHINGTON - F.D.A. to exclude rare sugar from counting as added sugar
Food Business News - April 30, 2019 - WASHINGTON - F.D.A. to exclude rare sugar from counting as added sugar
Food Business News - April 30, 2019 - 2
Food Business News - April 30, 2019 - 3
Food Business News - April 30, 2019 - Contents
Food Business News - April 30, 2019 - 5
Food Business News - April 30, 2019 - 6
Food Business News - April 30, 2019 - FROM THE EDITOR - U.S. agriculture in need of a youth movement
Food Business News - April 30, 2019 - Tyson exits investment in Beyond Meat, plans to launch alternative protein product
Food Business News - April 30, 2019 - Hershey unveils new leadership team
Food Business News - April 30, 2019 - Morton Sosland dies at 93
Food Business News - April 30, 2019 - 11
Food Business News - April 30, 2019 - Coke brand ventures beyond Zero Sugar
Food Business News - April 30, 2019 - 13
Food Business News - April 30, 2019 - Wells Enterprises acquires private label ice cream maker
Food Business News - April 30, 2019 - Mondelez International invests in paleo snack company
Food Business News - April 30, 2019 - Food remains a point of weakness in Unilever’s portfolio
Food Business News - April 30, 2019 - Unilever to add supplement maker to portfolio
Food Business News - April 30, 2019 - Butterfly Equity to buy Bolthouse Farms from Campbell Soup Co.
Food Business News - April 30, 2019 - 19
Food Business News - April 30, 2019 - 20
Food Business News - April 30, 2019 - 21
Food Business News - April 30, 2019 - MARKET INSIGHT - Organic sales double over five-year time span
Food Business News - April 30, 2019 - 23
Food Business News - April 30, 2019 - INGREDIENT TRENDS - VEGAN is trending in the plant-based space
Food Business News - April 30, 2019 - 25
Food Business News - April 30, 2019 - 26
Food Business News - April 30, 2019 - 27
Food Business News - April 30, 2019 - INGREDIENT INNOVATIONS - Going bold to break through in meat flavors
Food Business News - April 30, 2019 - 29
Food Business News - April 30, 2019 - BEVERAGE BUSINESS NEWS - Getting half-pint’s approval
Food Business News - April 30, 2019 - 31
Food Business News - April 30, 2019 - 32
Food Business News - April 30, 2019 - Highlights from SupplySide East
Food Business News - April 30, 2019 - NEW ON THE SHELVES
Food Business News - April 30, 2019 - 35
Food Business News - April 30, 2019 - 36
Food Business News - April 30, 2019 - Ingredient Market Trends - Canadian farmers to plant more wheat and oats but less canola in 2019
Food Business News - April 30, 2019 - INGREDIENT MARKETS
Food Business News - April 30, 2019 - 39
Food Business News - April 30, 2019 - 40
Food Business News - April 30, 2019 - 41
Food Business News - April 30, 2019 - 42
Food Business News - April 30, 2019 - 43
Food Business News - April 30, 2019 - 44
Food Business News - April 30, 2019 - 45
Food Business News - April 30, 2019 - 46
Food Business News - April 30, 2019 - 47
Food Business News - April 30, 2019 - SUPPLIER INNOVATIONS
Food Business News - April 30, 2019 - 49
Food Business News - April 30, 2019 - CLASSIFIEDS
Food Business News - April 30, 2019 - MARKETPLACE
Food Business News - April 30, 2019 - 52
Food Business News - April 30, 2019 - Ad index
Food Business News - April 30, 2019 - Food business in the news
Food Business News - April 30, 2019 - 55
Food Business News - April 30, 2019 - 56
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