Canadian frozen dessert maker CoolBrands International has announced that it has acquired the Kinnet Dairy DSD ice cream distribution business from troubled Italian food giant Parmalat.
The distribution business is located primarily in the State of Georgia, with additional distribution coverage in areas of Alabama and South Carolina.
As part of the deal CoolBrands’ wholly owned subsidiary, Eskimo Pie Frozen Distribution, has acquired the entire Kinnet Dairy ice cream distribution business, including customer lists, route lists, delivery vehicles, trademarks and inventory, from Parmalat’s subsidiary Farmland Dairies for an undisclosed cash purchase price.
The business and assets acquired by CoolBrands do not include any business or assets related to Parmalat’s Kinnet Dairy milk business, which Parmalat continues to operate.
“This acquisition expands our distribution footprint, adds operational synergies and enhances our strategic value as a favoured vendor to retailers in the grocery and convenience channels across the Southeast region,” said CoolBrands’ president and co-chief executive officer, David J. Stein.
“Acquiring smaller regional systems such as Kinnet Dairy is part of our strategy of expanding and strengthening our DSD system,” he added.