Dean Foods acquires Friendly’s Ice Cream
Dean Foods has completed the previously disclosed acquisition of the manufacturing and retail ice cream business of Friendly’s Ice Cream for $155 million in cash.
Friendly’s Ice Cream, with $166 million in net sales in 2015, produces packaged ice cream and other frozen dessert products, including single-serve sundae cups, novelty items, cakes and rolls. Friendly’s distributes these products in over 8,000 retail outlets.
Dean Foods said that the acquisition of Friendly’s Ice Cream reinforces the company as a clear U.S. leader in ice cream, with recognisable brands such as Mayfield and Dean’s Country Fresh. The company’s 2015 ice cream net sales totalled nearly $1 billion.
“The addition of Friendly’s to the Dean Foods family boosts our already-strong position in the ice cream category,” said Gregg Tanner, CEO. “Dean Foods is the United States’ third largest branded ice cream company. Friendly’s is an ideal complement to our other heritage brands across the country and fills a manufacturing and retail ice cream void in our nationwide footprint.”
