Schulze & Burch Biscuit Co. of Chicago said Monday that it has completed its acquisition of Yarnell’s Ice Cream Co., which closed and filed for bankruptcy last year, and plans "to make Yarnell’s products available at favorite retailers across the state by this spring."
In a news release, the company said its management will begin meeting with retailers to present the Yarnell’s product line with original formulas. It said the process of re-opening the Yarnell’s plant in Searcy will begin "immediately using some of Yarnell’s former employees."
"The outpouring of excitement and support for the Yarnell’s re-launch has exceeded all of our expectations," Kevin M. Boyle, president and CEO of Schulze & Burch, said in a news release. "We have heard loud and clear that Arkansans want their beloved ice cream back as it was. We’re looking forward to making that happen!"
In December, the company purchased Yarnell’s assets in an auction held by the company’s bankruptcy trustee for about $1.3 million. Creditors included the Arkansas Development Finance Authority and the Arkansas Economic Development Commission.
U.S. Bankruptcy Judge James Mixon approved the sale last week. His order confirmed the sale of Yarnell’s and its property in Searcy, as well as the company’s trademarks and recipes.
Schulze & Burch makes toaster pastries and granola bars and already operates a plant in Searcy.
Yarnell’s halted production in June and declared Chapter 7 bankruptcy in August. The company laid off 200 workers and shut its doors after nearly 80 years in business because of a decline in ice cream sales and rising food and fuel prices.
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