J & J acquires two brands from CoolBrands subsidiary
April 03, 2007
by FoodBusinessNews.net Staff
PENNSAUKEN, N.J. — J&J Snack Foods Corp. has acquired the Whole Fruit Sorbet and Fruit-a-Freeze Frozen Fruit Bar brands as well as the related assets.
The company is acquiring the brands from a subsidiary of CoolBrands International Inc., and the assets include a manufacturing facility in Norwalk, Calif.
"These two premium brands add to our expanding portfolio of frozen novelty products," said Gerald B. Shreiber, J&J’s president and chief executive officer. "Our goal is to improve upon their recent performance in the retail supermarket segment as well as to expand their presence in the food service market. In addition, the manufacturing facility gives us a West coast plant for manufacturing frozen novelty products that is expandable in the future, which would benefit logistics over the long term."
The brands experienced declining sales in recent years and had sales of about $10 million in 2006. Additionally, sales are expected to be less than $2 million for the fiscal year ending in September, but J&J hopes to boost the brands. The brands will be made available to the public through the food service and retail supermarket segments.