Blue Bell: $125M investment necessary to remain operational

[TexasTowelie]

BRENHAM (AP) — Blue Bell's chief executive told shareholders this week that Texas billionaire Sid Bass will lend the company up to $125 million, and that the investment is essential for the popular ice-cream maker to remain in business, according to a published report.

Under the terms, the Bass family would get a one-third stake in the company, struggling to recover after listeria contamination forced a crippling national recall in April, according to The Wall Street Journal, which reviewed the letter.

CEO and President Paul Kruse sent the letter to investors Monday saying Blue Bell Creameries was unable to raise enough capital from existing shareholders to remain operational. So the company's board of directors opted to "work with a single source" who was able to provide the necessary financing, the newspaper reported.

Texas-based Blue Bell on Tuesday announced that Bass would become an investor, but no terms were revealed.

Read more: http://lubbockonline.com/filed-online/2015-07-17/blue-bell-125m-investment-necessary-remain-operational#.VamOYPkT-70

[shenmue]

1. My Dad still likes their ice cream

It was good, but I stopped eating their stuff after the listeria problem. I won't start again until they do something like replace the whole factory.

[hobbit709]

2. I quit after they started using HFCS instead of real sugar.

And it would have cost them a lot less if they had upgraded to start with and dealt with the problem when it was first discovered.

Typical TX business attitude-Regulations, we don't need no regulations.

[Paladin]

3. I'm managing very well without it.

Particularly since I discovered that Ben & Jerry's version of my favorite flavor (pistachio) is a damned sight better than Blue Bell's.