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.Education Funding
Mitchell Superintendent Defends 'Second Job'
- 2.Retail & Restaurants
Pepsi Perfect To Be Released October 21
- 3.Retail & Restaurants
Cupcake Baker Whips Up A Book
- 4.Education Funding
Inside KELOLAND: Build Dakota Scholarship
Architects Ask For Opinion On Downtown's Future
Monday Morning Business Brief
Tuesday Morning Business Brief
$86,000 Awarded To Entrepreneurs Through Accelerator Challenge