Aureus executes binding letter of intent to acquire Yuengling’s Ice Cream
Aureus is a brand development company that focuses on acquiring and growing established food brands.
Aureus Inc., an Atlanta-based brand development company focused on acquiring and growing well-established food brands, said it executed a binding letter of intent (LOI) to acquire 67% of Yuengling’s Ice Cream Corp., Orwigsburg, Pa. This ownership stake of Yuengling’s Ice Cream is in addition to the 33% of Yuengling’s Ice Cream under contract as part of the purchase of Yuengling’s Ice Cream Online Distributors (YIC).
The transaction will be executed in three tranches, of which 5.5% has already been acquired, Aureus said. The second ownership stake of 18.5% will be acquired in the next few weeks, with the final tranche within 60 days following the closing date.