Technology company Schmitt Industries Inc. said it has closed on an agreement to buy ice cream company Ample Hills Creamery Inc. Terms of the deal was not disclosed.
Ample Hills filed for Chapter 11 Bankruptcy protection in mid-March due to financial difficulties not related to the novel coronavirus pandemic.
At the time, the Ample Hills and related companies based in Brooklyn, N.Y., had 10 scoop shops, a 15,000-square-foot manufacturing plant and an online wholesaler. It had developed a loyal following thanks to its high-quality ice cream with flavors such as State Fair (corn ice cream mixed with popcorn brittle and caramel swirls) Black Panther (black raspberry ice cream with chunks of single-origin ‘Wakandan chocolate fudge’) and Ooey Gooey Butter Cake.
Its bankruptcy included plans to sell all assets.
Schmitt said it would reopen nine locations in the coming weeks, rehire employees and reopen its factory in the Brooklyn neighborhood of Red Hook, while keeping the safety of its workers in mind, the company said in a release announcing the purchase.
"The safety and well-being of our Amployees is of the utmost importance as we reopen retail locations in the greater Brooklyn and New York Area,” Schmitt chairman and CEO Michael Zapata said. “Their engagement with our loyal customers daily, the excellent flavors and stories built into every pint of ice cream, and the brand's effortless nostalgia make up this special company.”
“On behalf of the Board, we are excited to bring the Ample Hills team back, and we believe our focus on operational efficiency and investing in the brand will benefit this beloved business and allow us to navigate these unprecedented times as we create a path to long-term profitability and growth,” he added.
Schmitt ownership formed Ample Hills Acquisition LLC to purchase the ice cream company.
Schmitt Industries Inc was founded in 1987 and designs, manufactures and sells high-precision test and measurement products and related services through its Acuity and Xact product lines. Acuity provides laser and white light sensor distance measurement and dimensional sizing products, and Xact provides ultrasonic-based remote tank monitoring products and related services in the “Internet of things” marketplace..
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