US private-equity firm Castanea Partners has made an investment in local ice cream maker Jeni’s Splendid Ice Creams.

The company, founded in 2002, owns a chain of 23 scoop shops. Its ice cream products are also distributed in US grocery retailers including Whole Foods and The Fresh Market, as well online. The group focuses on creating premium ice creams using “whole ingredients”. 

Castanea has taken an undisclosed stake in the business alongside founders Jeni Britton Bauer, Charly Bauer, Tom Bauer and CEO John Lowe.

“There are a lot of private equity firms. We chose veterans who have proven to be great collaborators and great people,” Lowe said. He added Jeni’s and Castanea have been in discussions for more than two-and-a-half years. “They’ve proven they understand who we are as a company and bring a wide range of expertise from which we will benefit. We are very excited they are joining us on this journey.”

“Jeni’s created the artisan category in ice cream – and clearly leads it,” added Steve Berg, managing partner at Castanea. “They have a great team, strong leadership, and amazing product. They’ve built their business as a community and are blazing a path for the next generation of better businesses and the good food movement. We think Jeni’s is the next great American ice cream company and look forward to supporting their growth.”

Financial terms were not disclosed. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.