Wells' Looks To Raise Capital
(Le Mars) -- In an effort to raise capital funds, Wells Enterprises, Incorporated, maker of Blue Bunny ice cream of Le Mars is looking at options, including, but not limited to, the sale of the company. An article that appeared in the Financial Times magazine, dated July 31st, said that sources
close to the situation confirmed it. Dave Smetter, Vice President of Marketing and Communications at Wells told KLEM news that the company was exploring all available options. Smetter did not speak on the record but issued a statement.
"Consistent with our vision to become the number one ice cream company in America by 2020, Wells Enterprises, Incorporated has begun a strategic process to raise capital to support our growth strategy. The process is expected to be completed by years end. We have built a strong platform from which to expand our business and are excited to undertake this process as we continue to develop high quality innovative products for our customers. We are proud of our long history of success and look forward to building on that tradition as our company takes this next step to grow the business and position Wells for the next 100 years."
In the Financial Times article, Smetter says this is not the first time Wells has been up for sale. It tried to find a buyer a few years ago, but ended up remaining private. Wells employs more than 2500 people and makes more than 70 different flavors of ice cream.
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