Casper’s Ice Cream acquired by private equity firm
MidOcean Partners, a middle market private equity firm, has acquired Casper’s Ice Cream, Cache Valley, Utah. Terms of the transaction were not announced. Casper’s Ice Cream is a branded and co-pack manufacturer of ice cream and frozen novelties. Brands owned by the company include Churn Baby, FatBoy and Jolly Llama. Applications manufactured by the company are bars, cones, cups, sandwiches, sticks and others.
“MidOcean has been evaluating opportunities in the branded food category for a number of years, with a specific focus on the highly attractive frozen novelty category,” said Daniel Penn, managing director of MidOcean. “Our focus in branded food has been in partnership with a host of MidOcean operating partners, including Steve Spinner who will serve as chairman of the Casper’s board. Joining Steve on the board will be MidOcean operating partner DJ Jenson and Maura Mottolese, the former CEO of Cholula and Tate’s Bake Shop.”
Other food-related companies currently in the MidOcean portfolio include Florida Food Products, Louisiana Fish Fry and Nutrabolt.
“MidOcean has an impressive track record in executing transformational growth,” said Kyle Smith, chief executive officer of Casper’s Ice Cream. “Their partnership, expertise and industry knowledge will enable us to dedicate our focus to key areas of our strategy, such as investment in our people and organic sales growth, which will come from expanded distribution and enhanced go-to-market strategy.”
Source – foodbusinessnews