HERMITAGE, PA. — Joy Cone Co., a nearly 100-year-old ice cream cone maker, has acquired BoDeans Baking Group, a leader in the novelty ice cream cone, wafer and inclusion market. Financial terms of the transaction were not disclosed.
“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 chief executive officer of Joy Cone Co.
Following the transaction, Mr. George said the Joy Cone Co. will be 100% employee-owned through an ESOP plan.
“As BoDeans Baking Group’s employees become part of Joy Cone Co., they are becoming actual owners in the company as well,” he said.
Founded in 2000, BoDeans operates two facilities, a 134,000-square-foot wafer plant in Le Mars, Iowa, and a 90,000-square-foot cone plant in Le Mars.
As part of its acquisition of BoDeans Baking, Joy Cone said it also is acquiring Altesa, the largest ice cream cone producer in Mexico. Altesa operates a new facility near Mexico City and is “well positioned for growth throughout Mexico and Central America,” Joy Cone said. BoDeans acquired Altesa in 2013.
“We welcome all of our new employees in the U.S. and Mexico into the Joy Cone family and express our strong commitment to all of our combined customers, suppliers and all other stakeholders,” Mr. George said.Founded in 1918, Joy Cone makes more than 1.5 billion ice cream cones a year for the retail and food service markets. The company’s products include cake cones, sugar cones, waffle cones and bowls. The company operates a manufacturing facility in Hermitage, Pa., and one in Flagstaff, Ariz.