Exciting future for Dippin' Dots under new ownership
Court Approves Dippin’ Dots Sale
Date Posted: May 02, 2012
Dippin’ Dots, LLC, a newly formed company based in Oklahoma City and funded by private capital, has received court approval to acquire Paducah, Kentucky-based Dippin’ Dots, Inc. A motion to permit the proposed sale was approved today by the U.S. Bankruptcy Court in Louisville, Kentucky. The sale is expected to close by mid-May. The buyer is unaffiliated with Dippin’ Dots, Inc., the past owners of the ice cream novelty company.
“We’re extremely pleased to take the next step toward making the acquisition official,” Scott Fischer, president of the new Dippin’ Dots, LLC, said. “The Dippin’ Dots brand resonates worldwide, and we look forward to growing this company for years to come. This transaction has gone extremely well, as all parties involved have exhibited a keen interest in the future of the company and its wonderful employees. We are prepared for an expedient and smooth transition to new ownership.”
Dippin’ Dots, Inc. is a well-known maker of flash-frozen ice cream. The company manufactures the product in Kentucky and sells to theme parks, concert and sports venues, and to a network of over 125 franchisees nationwide. Dippin’ Dots also sells internationally to customers and licensees in Canada, Europe, South Korea, Brazil, Japan and Australia. Dippin’ Dots employs approximately 165 workers at their facility in Paducah, Kentucky.
The founder of Dippin’ Dots, Curt Jones, is expected to resume his position as CEO under the new ownership team. “I’m excited about the future of Dippin’ Dots, and I’m eager to lead the company through the upcoming years of growth,” Jones said. Jones will oversee the company’s day-to-day operations and will hold a position on the company’s newly-formed board of directors.
In November 2011, Dippin’ Dots, Inc. filed for Chapter 11 bankruptcy protection in federal court in Kentucky. The definitive purchase agreement was approved by the bankruptcy court on May 2, and the final closing of the transaction is expected in the next couple of weeks.
Fischer also added that the company headquarters will remain in Paducah, Kentucky. “When we were exploring the possibility of purchasing Dippin’ Dots, we were consistently impressed by the quality and dedication of the Dippin’ Dots employees. Keeping the headquarters in Kentucky just made sense, and we’re proud to maintain what has historically been a mutually-beneficial relationship between Dippin’ Dots and the Paducah community. With that relationship intact, we are confident the future of the company stands on solid ground.”
About Dippin' Dots
Few products can claim to have "re-invented" one of the world's best-known treats.
In 1988, Dippin' Dots Founder Curt Jones changed the way the world enjoys ice cream. Jones, a microbiologist, pioneered the process of cryogenic encapsulation...a scientific way of saying he used super-cold freezing methods to make little beads of ice cream. Not only were the ice cream beads delicious and fun to eat, Jones knew that flash-freezing the ice cream ingredients would lock in flavor and freshness. With those qualities established, Dippin' Dots’ popularity skyrocketed, and the ice cream now has a home in thousands of locations worldwide, including theme parks, fairs & festivals and franchised store locations.
Dippin' Dots is made from fresh dairy ingredients flavored with a variety of fun, fruity, enticing and even exotic flavors. Those ingredients are frozen almost instantly in liquid nitrogen, a common element in the atmosphere used commercially for flash freezing. After production, Dippin' Dots are packaged and shipped worldwide. The most popular flavors are Banana Split, Cookies & Cream and Rainbow Ice.
Dippin' Dots is made at the company's Administrative, Sales, Franchising, and Production headquarters in Paducah, Kentucky.