Advertisement
01/04/2022

Casper’s Ice Cream Acquired By MidOcean Partners

Image
fat boy ice cream

Ice cream manufacturer Casper’s Ice Cream has been acquired by the MidOcean Partners private equity firm.

Financial terms of the transaction were not disclosed. 

The ice cream company, which includes such brands as FatBoy, Jolly Llama and ChurnBaby in its portfolio, was founded in 1925 and is based in Cache Valley, Utah. It’s been owned by the Merrill family for more than 95 years.

[See also: Unilever Sells Tea Business To PE Firm]

MidOcean, which also invested in the Louisiana Fish Fry food brand last July, intends to accelerate Casper’s growth through organic initiatives and strategic M&A.

Casper’s operates three manufacturing facilities, including one that MidOcean said is the newest frozen novelty manufacturing facility in the United States.

In an announcement, Casper’s CEO Kyle Smith cited MidOcean’s track record in executing transformational growth.

“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,” he noted. “We look forward to continue serving our customers and end consumers — existing and new — across the country.”

Steve Spinner, a MidOcean operating partner and previously chairman and CEO of United Natural Foods (UNFI), will serve as chairman of the Casper’s board.

More M&A Activity