Wells Enterprises Inc., Le Mars, Iowa, said it signed a purchase agreement with Los Angeles-based Eden Creamery LLC to acquire the Halo Top brand. This purchase expands Wells’ current portfolio to five distinct brands.
The sale is expected to be completed in September, Wells said, subject to standard closing conditions. Financial terms of the deal are not being disclosed.
“Halo Top disrupted the ice cream category by providing a high-protein, low-sugar, low-calorie dessert that gave consumers a reason to purchase ice cream as a treat again,” said Mike Wells, Wells’ CEO and president. “Halo Top met a consumer need that no one else in the category was serving. We feel it is a good fit for the Wells portfolio as we look to broaden our offerings for consumers.
“Wells has been making ice cream products for over 100 years,” he continued. “We have the sales and marketing expertise, but more importantly the passion, to help grow this brand even further. We love ice cream and will leverage Halo Top’s brand equity and awareness to help grow it.”
Wells said it is the No. 2 ice cream manufacturer in the United States with a strong house of brands, including its signature brand, Blue Bunny, along with a private label and co-pack business
“We’re thrilled to join the Wells family,” said Justin Woolverton, founder and CEO of Halo Top. “As Halo Top continues to mature, Wells’ expertise in everything from operations, to managing brands, to making ice cream products for over a century will help Halo Top become an even better product and stronger brand. On top of that, Wells simply does things the right way — something that has been at the forefront for us when looking at potential acquirers.”
In connection with the purchase, Wells said it agreed to license the Halo Top brand outside of the United States and Canada to a new company that Doug Bouton, president and chief operating officer of Halo Top, plans to operate after closing.