Le Mars-Based Wells Dairy To Remain Locally-Owned And Privately-Held

Date posted - November 15, 2012

Le Mars, Iowa — A northwest Iowa company, best known as the maker of Blue Bunny Ice Cream, will not be sold after all.

Le Mars-based Wells Enterprises has decided to remain locally-owned. A statement from the company says its board of directors will not seek outside equity investors and will not change ownership. Wells will remain a privately held and family owned company as it has been for the last 100 years. The statement says the company has decided “the best course of action to become America’s number one ice cream maker by 2020 is to refinance to support [their] growth objective.”

Wells expects to complete capital raising efforts by early next year. Company officials had announced back in August they were looking at options to raise money and a sale could be one of those options. Wells employs more than 2,500 people in Iowa, mostly in Le Mars. They also have employees in Utah.

RadioIowa assisted with this story.

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One Response to “Le Mars-Based Wells Dairy To Remain Locally-Owned And Privately-Held”

  1. BVP says:

    If only Sathers Candy & Trucking in Round Lake, MN would have been so smart. Instead, they were owned by Favorite Brands and went bankrupt. Nabisco bought them and then Kraft bought Nabisco. Then Kraft put us up on the block when an investment firm bought us and then Farley’s & Sathers Candy Company, Inc was created. But Farley’s & Sathers couldn’t be happy without acquision after acquision, buying Brach’s Candy until the company grew to over $600 million. In addition to the company growing, so did the upper management. They were not happy with what they had. Now the company “Merged”, more like was taken over by Ferrara Pan Candy in IL and after over 40 years of the Round Lake buisness being in operation is now closing. Bigger isn’t always better!! Being locally owned & operated is what is best for these small town companies. Kudos to Wells Dairy!!

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