Who owns wells dairy

In it built an ice cream manufacturing plant in St. George, Utah, with the capacity to run two production lines of packaged ice cream of different sizes. With three ice cream manufacturing facilities in operation, Wells had the capacity to significantly increase production of its Blue Bunny brand and to become a licensee, manufacturing ice cream for other companies under their brand names.

We manufacture the store brands of other companies and, in exchange, they carry Blue Bunny in their stores. Wells has also built a profitable partnership with Weight Watchers. In , the weight-loss company approached Wells about developing new products under the Weight Watchers label.

The partnership model of leadership that had served the company well through most of its history came into question in the third generation. By , Wells had become a billion-dollar company with a national reach. Family and non-family management engaged in long discussions about how Wells could best position itself to grow and thrive in an increasingly competitive industry.

The final proposal to change the management structure and reconstitute the board won shareholder approval. Gary, Doug, Greg and Dan Wells stepped down from their positions. We had to streamline our structure, and we started at the family management level. Now Wells has the structure and discipline of a publicly traded company and the advantages of being privately held.

Mike says that the transition was handled amicably but also acknowledges the sacrifices family executives made in stepping down.

Doug, like all of the third generation, had spent his adult years working in the family business, and he says it was difficult to walk away. It was a critical time for the business. Adding outside directors to the board was another critical building block in navigating the transition. Mike has a real passion for the business and its role in the industry, and the right combination of talents to lead the company.

The council would provide opportunities for shareholders to raise questions, learn more about the business and how it functions, and nurture pride in the family legacy. A group of shareholders sprang into action, forming a task force under the guidance of Jennifer Pendergast, senior consultant at the Family Business Consulting Group.

Within a few months it had developed a charter and resolved the question of eligibility. Spouses and trust beneficiaries would have the same status as other shareholders.

After getting approval from the shareholders, the council approved the slate of four candidates, representing two family branches and two generations, at its January meeting. A retired nurse who lives on the East Coast, she had never worked in the business.

A survey showed that their immediate interest was in learning how to interpret financial statements. Sargeant and Hylton worked with the Family Business Center at Loyola University in Chicago, which had developed a webinar on reading financial reports. The council helped us understand what shareholders want, but their concerns will change as the business changes.

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Request a free trial Log in. Wells Enterprises. Wells Enterprises Overview Update this profile. Founded Status Private. Employees 4, Latest Deal Type Debt.

Financing Rounds 6. Investments 4. Wells Enterprises General Information Description Wells Enterprises is a manufacturer of ice cream, frozen novelties and specialty frozen desserts. Ownership Status. Privately Held backing. The acquisition is expected to give Wells Enterprises a strategic footprint on the East coast.

Fieldbrook operates manufacturing facilities in Dunkirk and Lakewood, N. The company produces more than million frozen novelties and 25 million gallons of ice cream a year. Wells said. The combination creates a stronger platform for growth and positions us to better serve our customers, as well as providing a more geographically diverse footprint for us.

Founded in by Fred H. Wells, Wells Enterprises produces more than million gallons of ice cream per year at two manufacturing plants in Le Mars and distributes product in all 50 states. Last year, Wells Enterprises launched two new product lines that Mr. Wells said embody the two major trends driving the ice cream industry: permissible indulgence and healthier lifestyle foods.

The 8. In March , Wells launched Chilly Cow, a high-protein, low-fat, low-calorie ice cream made with ultra-filtered milk.