![]() ![]() In 2012, Halo Top carved out shelf space in Sprouts, Erewhon and Whole Foods in a cold-call process Woolverton found nerve-racking in spite of his experience as a litigator. It was a risk.”Ī lawsuit forced a name change from the original Eden Creamery to Halo Top, ultimately leading to a better-looking brand, Woolverton said. “I had a good $150,000 in credit cards just to rack up. “It took me a year to figure out how to really make ice cream,” Woolverton said. His work there hadn’t turned into one of the John Grisham novels he had so often enjoyed and that had inspired his legal career. Woolverton said he was more than ready for a change. Woolverton was already dragging around $350,000 in law school loans when he decided to fund his business using the good credit he built during four years at the law firm Latham & Watkins. It took me a year to figure out how to really make ice cream.Īlthough Woolverton’s first ice cream attempt convinced him that others might buy it, there was a huge financial hurdle. “People said you got mental clarity if you did it,” the UCLA and Columbia Law School graduate said. The idea for Halo Top came out of Woolverton’s experiments with reducing his intake of refined sugar and carbohydrates. ![]() In response, Halo Top issued a statement saying only that it had previously received buyout offers and rejected them all. Reuters reported last month that Halo Top was exploring a sale of the company, citing anonymous sources. That kind of track record draws attention. “It’s crazy that someone can just come into an established industry and do this.” It’s a remarkable story,” said John Crawford, vice president of the western dairy region for Chicago-based IRI. “It didn’t happen just once it’s sustained. Still, experts consider the conquest a major achievement for a small company. industry with 2016 sales of $6.6 billion, according to Nielsen. To be fair, Halo Top rules just one supermarket category, not counting sales of sherbet or gelato or sizes other than pints, in a U.S. 6, IRI said, Halo Top had sales of $86.9 million, compared with $83.3 million for Ben & Jerry’s and $78.6 million for Haagen-Dazs. “On top of that, Wells simply does things the right way – something that has been at the forefront for us when looking at potential acquirers.It closed the gap with leaders Ben & Jerry’s and Haagen-Dazs the next month and landed the top spot in July. As Halo Top continues to mature, Wells’ expertise in everything from operations, to managing brands, to making ice cream products for over a century will help Halo Top become an even better product and stronger brand. Justin Woolverton, Founder & CEO of Halo Top, added: “We’re thrilled to join the Wells family. We love ice cream and will leverage Halo Top’s brand equity and awareness to help grow it.”# We have the sales and marketing expertise, but more importantly the passion, to help grow this brand even further. “Wells has been making ice cream products for over 100 years. We feel it is a good fit for the Wells portfolio as we look to broaden our offerings for consumers. “Halo Top met a consumer need that no one else in the category was serving. Mike Wells, CEO and president of Wells Enterprises said: “Halo Top disrupted the ice cream category by providing a high protein, low sugar, low-calorie dessert that gave consumers a reason to purchase ice cream as a treat again. In connection with the purchase, Wells also has agreed to license the Halo Top brand outside of the US and Canada to a new company, which will be led by Doug Bouton, president & COO of Halo Top. The purchase of Halo Top means that Wells now owns five ice cream brands, including the Blue Bunny range. One report from Reuters suggested that Eden Creamery valued the brand at as much as $2 billion. Reports in 2017 suggested that Eden Creamery was exploring a sale of the brand, as the company aimed to capitalise on the growing demand for premium, ‘healthy’ ice cream brands from big businesses aiming to adapt to changing consumer habits. Halo Top produces a wide range of low-calorie ice creams, and was one of the first major brands to build a strong presence in the low-calorie ice cream space. US-based ice cream manufacturer Wells Enterprises has acquired low-calorie ice cream brand Halo Top from Eden Creamery for an undisclosed figure. ![]()
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