Fieldbrook Foods In Dunkirk Purchased By Competitor
LE MARS, Iowa (AP) — Wells Enterprises Inc. has acquired Fieldbrook Foods headquartered in Dunkirk from Arbor Investments effective Monday.
In a press release, the company said the purchase “expands Wells’ current manufacturing capacity, diversifies its ability to support customers geographically to help meet future demand and adds an important footprint on the East Coast.”
“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,” said Mike Wells, CEO and president. “We’re excited for the future and growing our business together.”
Wells and Fieldbrook have highly complementary businesses. Wells is the No. 3 ice cream manufacturer in the U.S. with a strong house of brands including signature brand, Blue Bunny, along with private label and co-pack business.
Fieldbrook is a strong private label/contract manufacturer located in the Northeast. Fieldbrook operates two manufacturing facilities, one in Dunkirk, another in Lakewood, New Jersey.
Together Wells and Fieldbrook will employ over 3,800 people and produce close to 200 million gallons of ice cream.
“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 fulfill Wells’ purpose of bringing joy to everyday life because of the love of ice cream,” said Mike Wells.
UBS Investment Bank acted as the financial advisor to Wells, with McDermott Will & Emery serving as legal advisor.
Wells Enterprises, Inc. is the largest privately held, family-owned ice cream manufacturer in the United States. Founded in 1913 by Fred H. Wells, the company is still proudly owned by the Wells family today.
Wells produces more than 150 million gallons of ice cream per year and distributes products in all 50 states. Wells manufactures its signature brand Blue Bunny, the iconic Bomb Pop, Blue Ribbon Classics and its newest brand, Chilly Cow.