A corporation headquartered in New Jersey specializing in snack foods has bought Paducah-based Dippin’ Dots for $222 million, a massive increase in value for the novelty ice cream company compared to when the company was bought in bankruptcy court a decade ago.
J&J Snack Foods announced the deal in a press release Thursday. J&J Snack Foods owns other notably snack food brands such as Icee, SuperPretzel, Minute Maid frozen ices and more. J&J President and CEO Dan Fachner in a statement said the corporation has a history of scaling up other snack brands.
“Dippin’ Dots aligns perfectly with J&J’s portfolio strategy by adding an iconic, differentiated brand that uniquely complements our frozen novelty and frozen beverage businesses,” Fachner said. “As a part of J&J, we will have the opportunity to leverage our marketing and innovation capabilities to promote Dippin’ Dots and expand distribution into new markets while implementing initiatives to gain added operating efficiencies.”
Dippin’ Dots CEO Scott Fischer in a statement said he was “thrilled” to join J&J Snack Foods and believes the corporation can help Dippin’ Dots grow into the future. Scott Fischer and his father bought Dippin’ Dots in 2012 for $12.7 million in bankruptcy court and decided to keep the company’s headquarters in Paducah.
