Following the listeria outbreak that killed three people and led to ten hospitalizations earlier this year, one of the biggest ice-cream companies in the United States, Blue Bell Creameries decided to withdraw its products from 23 states.
This obviously had devastating companies on the giant Texas-base company, which lost $ 130 million in sales and had to lay off more than 1,500 employees and have about 1,400 placed on partially paid furlough.
According to representatives of Blue Bell, the financial crisis was imminent. That was, at least, before the multi-billionaire businessman Sid Bass came along with a promise of investment.
Even if the company has not given details about the deal and Sid Bass could not be reached for comments on the matter, it seems that he might be here to save the day for the company, after Paul Kruse, the chief executive asked all the investors to help out.
Kruse’s letter stated that Blue Bell only had enough money to carry on with its limited production for a bit more than a month.
He also warned that if a considerable investment did not appear soon, the company might be facing the risk of being closed down.
Sid Bass is a 72-year-old philanthropist and very famous investor who appeared in the Forbes magazine as one of the richest billionaires in the world. He inherited an oil fortune and was witty enough to invest in some very prolific businesses throughout his life.
Even if he did not personally issue any comments on the brand new investment, representatives of his office confirmed the news, stating that they are happy to be part of the famous ice-cream brand.
Even if no new products have been advertised so far, Blue Bell is expected to make a comeback and Paul Kruse is optimistic about it:
“The additional capital will ensure the successful return of our ice cream to the market and to our loyal customers,” he said.
The company needs a lot of money to make sure its products are back on the shelves and they become as popular as they once used to be. According to Mr. Kruse, Blue Bell needs about $ 125 to be back on track.
However, it still remains to be seen if this money will be able to buy customers’ trust after so much bad publicity. While the company can only hope for the best, people have become very skeptical about buying products that once threatened to make them sick.
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