Wells Acquires Fieldbrook Foods

Wells Enterprises Announces Acquisition of Fieldbrook Foods

Agreement Expands Annual Capacity to 200 Million Gallons, Adds East Coast Footprint

Le Mars, Iowa – April 15, 2019 — Wells Enterprises, Inc. has acquired Fieldbrook Foods headquartered in Dunkirk, New York, from Arbor Investments effective April 15, 2019. This purchase expands Wells’ current manufacturing capacity and 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,” explained 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 #3 ice cream manufacturer in the US 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.   
 
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About Wells Enterprises
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®.

Wells employs over 3,000 ice cream aficionados across the country. The company is headquartered with two manufacturing plants in Le Mars, Iowa. As the world's largest manufacturer of ice cream in one location, Wells has made Le Mars the "Ice Cream Capital of the World.”
 

About Fieldbrook Foods
Fieldbrook Foods is a leading U.S. ice cream producer located in the Northeast and offers a comprehensive portfolio of value and premium quality frozen novelty and ice cream products. With its flexible, comprehensive production capabilities, Fieldbrook is an ideal private label and co-packing partner to retailers, contract manufacturing customers and food service operators.

The Company is uniquely equipped to provide a complete offering of products. Fieldbrook is widely recognized for its commitment to unparalleled and responsive customer service, reinforcing customer loyalty and strengthening its position as a category leader.