Dippin’ Dots LLC, a newly formed company funded by private capital, has acquired Dippin’ Dots Inc., the Paducah-based company that produces unique flash-frozen ice cream beads.
The acquisition follows several years of financial difficulties for Dippin’ Dots Inc., which ultimately ended up filing for Chapter 11 bankruptcy protection last November.
Scott Fischer, president of Dippin’ Dots LLC, said the company will maintain its headquarters in Paducah, where it employs approximately 165 people. The product is sold to theme parks, concert and sports venues, and to a network of more than 125 franchisees nationwide, as well as to customers and licensees in Canada, Europe, South Korea, Brazil, Japan and Australia.
“Dippin’ Dots is an outstanding brand, and thanks to the continued dedication of our Dippin’ Dots employees, we are in a unique position to reconstruct the business model of one of the most recognizable brands in the retail market and to realize growth on an international scale,” Fischer said. “We have set internal milestones for substantial growth within the first year. Presently, there are more than 1,600 Dippin’ Dots locations worldwide. By the close of 2012, the company plans to raise that number to 2,000.”
Curt Jones, a microbiologist who founded the company in 1988, is expected to resume his position as CEO under the new ownership team. Jones will oversee the company’s day-to-day operations and will hold a position on the newly formed board of directors.
Financial details of the acquisition were not disclosed.