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Established in 1918, Joy Cone Company announces a new strategic transaction as the company closes in on its 100-year anniversary. Joy Cone Company now includes BoDeans Baking Group, a leader in the novelty ice cream cone, wafer and inclusion market. "BoDeans Baking Group's manufacturing excellence in wafers and cookie inclusions is a particularly exciting area of growth, as the combined company continues its expansion and offers a range of unique specialty bakery items to a greatly enhanced customer base," said David George, President/CEO of Joy Cone Company. One of the most significant aspects of this combination is that the new Joy Cone Company will be 100 percent employee-owned through an ESOP plan. "As BoDeans Baking Group's employees become part of Joy Cone Company, they are becoming actual owners in the company as well," said George. In addition to BoDeans Baking Group, Joy Cone Company is simultaneously acquiring Altesa, the largest ice cream cone producer in Mexico. Altesa's new, state-of-the-art facility near Mexico City is well-positioned for growth throughout Mexico and Central America. "We welcome all of our new employees in the U.S. and Mexico into the Joy Cone family, and express our strong commitment to all of our combined customers, suppliers and all other stakeholders," said George. |
