BLUE BELL CREAMERIES RECEIVE INVESTMENT FROM TEXAS BUSINESS INVESTOR
Blue Bell Creameries announced on Tuesday that that prominent Texas business investor Sid Bass has become an investor and partner with the company.
Sid Richardson Bass graduated from Yale University and Stanford Graduate School of Business before joining the family business founded by his great uncle, Sid Richardson, and his father Perry Richardson Bass.
Bass has managed long term investments, and worked closely with management teams throughout his career, notably The Walt Disney Company.
Bass says that he is excited to be part of the Blue Bell brand and family and goes on to say that, “Blue Bell is the quality leader in the ice cream industry. We believe quality is the principle attribute that ensures the success, growth and longevity of a business.”
The announcement comes as Blue Bell is working to get back into production after all operations were suspended after a listeria outbreak. The company recently announced they would begin trial productions at the company plant in Alabama.
The company issued a national recall and shut down production after the company's ice cream was linked to 10 listeria illnesses in four states, and three deaths in Kansas.
Something smells fishy here.(No Pun Intended) I know this article does not give enough information but in light of what Blue Bell is going through now, who in their right mind would invest in a company that just dumped 1/3 of their employees, and is still under investigation for deaths and illnesses in several states? It just doesn’t add up. Are the Kruse’s going to “bail” on Blue Bell?
It isn’t unusual for an investor to put money into a foundering business to boost it again. Bass likely knows that Blue Bell is still immensely popular in spite of all the troubles and wants a piece of the potential future.
Think of it this way – it’s like stocks: you buy when it’s low, sell when it’s high. Blue Bell right now is at it’s low point, so it’s easy to invest in it with the prospect of a huge payoff afterward. Then there is the flip, which I don’t see likely given the amount of time they’ve spent working on all three plants.
(And note – the Disney Company has had countless lawsuits over its 60 years or so of park existence, some death, others injury, but he worked with them).
Investors did this with other issues similar to Blue Bell. It’s a gamble – he sees potential so he’s taking a shot. I know some won’t like this thought – but it does make sense.
You don’t do the internet much? LOL I’m surprised to see a logical and well reasoned comment on an internet forum. Thanks for a well thought out response.
Mr. Bass and the rest of the family do a lot of investing, along with a lot of philanthropy. Many of their endeavors have made Ft. Worth what it is today … Bass Performance Hall and Sundance Square to name a few. They are astute business people and have a team that assess the risk involved. Thankfully, Mr. Bass sees potential in a Blue Bell comeback. We love Blue Bell — the product and the people!! We are glad Mr. Bass seems to feel the same.