Houlihan Lokey Advises Fieldbrook Foods

Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Fieldbrook Foods Corp. (Fieldbrook), a portfolio company of Arbor Investments (Arbor), has been acquired by Wells Enterprises, Inc. (Wells). The transaction closed on April 15, 2019. 

This deal represents another successful transaction for Houlihan Lokey in the food and beverage industry.

Founded in 1914 in Dunkirk, New York, Fieldbrook is a leading U.S. ice cream producer and offers a comprehensive portfolio of value and premium quality frozen novelty and ice cream products. Fieldbrook ranks among the largest ice cream manufacturers in the U.S. and can produce over 120 million dozen frozen novelties and 25 million gallons of ice cream annually. Fieldbrook is an ideal private label and co-packing partner to retailers, contract manufacturing customers, and foodservice operators, with distribution in all 50 states and Puerto Rico.

Founded in 1999 with offices in Chicago and New York, Arbor is a specialized private equity firm that focuses exclusively on acquiring premier companies in the food, beverage, and related industries. To date, the firm has acquired or invested in 68 food and beverage companies in North America.

Wells is the largest privately held, family-owned ice cream manufacturer in the United States. Founded in 1913 by Fred H. Wells, the company is still proudly owned by the Wells family today. Wells produces over 150 million gallons of ice cream per year and distributes products in all 50 states. Wells manufactures its signature brand Blue Bunny®, the iconic Bomb Pop®, Blue Ribbon Classics®, and its newest brand, Chilly Cow®. Wells employs more than 3,000 ice cream aficionados across the country. The company is headquartered with two manufacturing plants in Le Mars, Iowa. As the world's largest manufacturer of ice cream in one location, Wells has made Le Mars the "Ice Cream Capital of the World."