US milk and dairy product processor Dean Foods Company has completed its acquisition of the manufacturing and retail ice cream business of Friendly’s Ice Cream for $155 million.
Friendly's Ice Cream, with $166 million in net sales in 2015, produces packaged ice cream and frozen dessert products, including single-serve sundae cups, novelty items, cakes and rolls. Friendly's distributes these products in over 8,000 retail outlets.
“The addition of Friendly’s to the Dean Foods family boosts our already-strong position in the ice cream category,” says Gregg Tanner, CEO. “Dean Foods is the United States’ third largest branded ice cream company. Friendly’s is an ideal complement to our other heritage brands across the country and fills a manufacturing and retail ice cream void in our nationwide footprint.”