The Le Mars company that produces Blue Bunny ice cream says it plans to raise money for expansion through conventional loans and not by selling a stake in the business.
Wells Enterprises released a statement Wednesday saying the business would remain a private, family-owned company.
Wells wants to double revenues by 2020 and had considered selling an interest in the business to raise money needed for such an expansion.
But spokesman Dave Smetter says the company decided that with interest rates at historic lows, it makes sense to fund the growth with conventional credit.
Wells sold its milk and yogurt holdings in 2006 and focused on ice cream and frozen novelties. Since then, Wells' share of the national ice cream market has steadily increased.
Most Popular Today
- 1.Retail & Restaurants
National Pizza Franchise Coming To Sioux Falls
- 2.Your Money Matters
It Looks Like A Credit Card, But It's Not
Raven Begins Search For New CFO
- 4.Retail & Restaurants
New Boutique To Open On Wednesday
Redfield Drive-In To Stay Open
- 6.Retail & Restaurants
Empire Mall Seeks Vendors For Women's Event
2014 Summit Championships Have $8.52M Impact
Shifting Soil Causes Problems At Badlands Visitor Center
Study Shows Smartphone Addiction Is Rising
Sioux Falls Area Community Foundation Makes Top 100 List