Wells Enterprises reportedly up for sale
Wells Enterprises, the family-owned maker of Blue Bunny ice cream, is up for sale, according to a report in the Financial Times that cited anonymous sources. The sources told the FT that the Le Mans, Iowa, company has hired JPMorgan to run an auction.
The FT article said private equity buyers including Oaktree Capital Management were interested in acquiring the company, but no strategic buyers were believed to be interested.
Wells spokesman Dave Smetter told the FT that the company has begun a strategic review and seeks to raise capital. He did not rule out a sale, the article said.
Wells, founded in 1913, tried to find a buyer a few years ago but ended up remaining privately held, the FT article said. (Source: Financial Times, July 31, 2012.)
Posted Wednesday, August 01, 2012 • Permalink
Get the RSS Feed
Recent Posts
Third Pilot Flying J employee pleads guilty
Family takes full control of Porsche holding company
Rupert Murdoch files for divorce
Constellation is now U.S.’s #3 beer supplier
Tyson CEO says Smithfield sale will help Tyson’s exports
Mays brothers still using Clear Channel aircraft
New Pirelli holding company created
Mukesh Ambani seeking revenue from telecom, retail
Zeckendorf brothers developing U.N. Plaza condos
Crain Communications promotes third-generation member