LE MARS, Iowa – Wells Enterprises Inc. has signed a purchase agreement with Eden Creamery, LLC, to acquire Halo Top, a low-calorie brand of ice cream.
The sale, expected to be completed in September, is the latest in a series of acquisitions by the Le Mars-based family business as it pursues its longtime goal of becoming the nation's leading ice cream maker.
Terms of the deal are not being disclosed.
“Halo Top disrupted the ice cream category by providing a high protein, low sugar, low calorie dessert that gave consumers a reason to purchase ice cream as a treat again," Wells CEO and President Mike Wells said in a statement. "Halo Top met a consumer need that no one else in the category was serving. We feel it is a good fit for the Wells portfolio as we look to broaden our offerings for consumers."
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“We’re thrilled to join the Wells family. As Halo Top continues to mature, Wells’ expertise in everything from operations, to managing brands, to making ice cream products for over a century will help Halo Top become an even better product and stronger brand,” Justin Woolverton, founder and CEO of Halo Top, said in a statement. "Wells simply does things the right way – something that has been at the forefront for us when looking at potential acquirers."
In connection with the purchase, Wells also has agreed to license the Halo Top brand outside of the United States and Canada to a new company that Doug Bouton, president & COO of Halo Top, plans to operate after closing.
UBS Investment Bank acted as the financial adviser to Wells, with McDermott Will & Emery serving as legal adviser.
With the purchase, Wells has expanded its portfolio to five distinct brands, including its signature brand, Blue Bunny. The company also has a large private label and co-pack business.

Mike Wells
Last week, Wells, the No. 2 ice cream manufacturer in the United States, announced a deal to purchase an ice cream plant in a Las Vegas suburb from industry leader Unilever.
It was the second major acquisition in four months by Wells, which in April bought Fieldbrook Foods, an ice cream company with plants in New York and New Jersey.
The Fieldbrook deal increased Wells’ overall manufacturing capacity to nearly 200 million gallons of ice cream per year, up about 25 percent from the previous production at its two plants in Le Mars. The increased pace will allow Wells to leapfrog Nestle to become the second largest ice cream manufacturer, Mike Wells said.
PHOTOS: 19th century Sioux City corn palaces
1887 Corn Palace

The 1887 corn palace in Sioux City is pictured.
1889 Corn Palace

The 1889 Corn Palace was the third in Sioux City. It was located at Sixth and Pierce streets.
Goddess of Light 1890

The Goddess of Light panel made of corn on display in the 1890 Sioux City Corn Palace. The panel was part of the electrical exhibit created by L.G. Nilson.
Corn Palace 1890

The fourth Corn Palace in 1890 was located at Sixth and Pierce streets in Sioux City.
1890 exhibit

Part of the electric exhibit at the 1890 Sioux City Corn Palace.
Corn Palace display

This circa 1890 photo shows a display inside a corn palace.
Corn palace display 1890

A display by the Sioux City Electrical Supply Co. in the 1890 Corn Palace in Sioux City.
1890 Corn Palace

The 1890 Corn Palace was located at 413 Fourth Street in Sioux City.
Corn Cutter 1890

The first electric motor operated in Sioux City was in the 1890 corn palace.
Corn palace visitors

This circa 1890 photo shows people outside a corn palace entrance.
Electrical Supply Co. Exhibit

Part of the Electrical Supply Co. Corn Palace Exhibit in the 1890 Sioux City Corn Palace.
Sioux City Corn Palace 1891

An interior view of the Sioux City Corn Palace in 1891.
The Huskers, 1891

The Huskers of 1891 are pictured around an image of that year's Corn Palace in Sioux City.
Electrical Supply Co. Exhibit

Electrical Supply Co. Corn Palace Exhibit 1891 in Sioux City.
Corn Palace 1891

The fifth corn palace, erected in 1891 in Sioux City, spread across Pierce Street with a large archway that allowed traffic to pass underneath.
Electric Fountain

The first electric fountain located west of Philadelphia was on display at the 1891 Corn Palace in Sioux City.
Sioux City Corn Palace 1891

Sioux City's last Corn Palace in 1891.
1891 corn palace

The domed corn palace as it appeared in Sioux City circa 1891.
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