US-based ice cream manufacturer Wells Enterprises has acquired low-calorie ice cream brand Halo Top from Eden Creamery for an undisclosed figure.
Halo Top produces a wide range of low-calorie ice creams, and was one of the first major brands to build a strong presence in the low-calorie ice cream space.
Reports in 2017 suggested that Eden Creamery was exploring a sale of the brand, as the company aimed to capitalise on the growing demand for premium, ‘healthy’ ice cream brands from big businesses aiming to adapt to changing consumer habits. One report from Reuters suggested that Eden Creamery valued the brand at as much as $2 billion.
The purchase of Halo Top means that Wells now owns five ice cream brands, including the Blue Bunny range.
In connection with the purchase, Wells also has agreed to license the Halo Top brand outside of the US and Canada to a new company, which will be led by Doug Bouton, president & COO of Halo Top.
Mike Wells, CEO and president of Wells Enterprises said: “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.
“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. 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.”#
Justin Woolverton, Founder & CEO of Halo Top, added: “We’re thrilled to join the Wells family. 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.”
© FoodBev Media Ltd 2020