US ice cream group Joy Cone Co. has acquired US novelty cone and wafer company BoDeans Baking Group and Mexican cone producer Altesa.
The company said the acquisition of BoDeans opens growth areas in wafers and “cookie inclusions”.
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“BoDeans Baking Group’s manufacturing excellence in wafers and cookie inclusions is a particularly exciting area of growth, as the combined company continues its expansion and offers a range of unique specialty bakery items to a greatly enhanced customer base,” said David George, president and CEO of Joy Cone.
Altesa will facilitate growth in Mexico and South America, Joy Cone suggested. Altesa is the largest ice cream cone producer in Mexico with a production facility located near to Mexico City.
Financial details were not disclosed. However, the expanded company will be 100%-owned by Joy Cone and former BoDeans employees through an employee stock ownership plan, Joy Cone said.
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“As BoDeans Baking Group’s employees become part of Joy Cone Company, they are becoming actual owners in the company as well,” George said.. “We welcome all of our new employees in the US and Mexico into the Joy Cone family, and express our strong commitment to all of our combined customers, suppliers and all other stakeholders.”
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