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Yuengling’s Ice Cream Corporation, a super-premium ice cream company focused on the production of high-quality ice cream and other dairy products announced that the company is raising up to $5 million in a private placement offer.
The company intends to use the proceeds from the offering for growth initiatives including expanding inventory, promotions, advertising, new product and business development, and production plant development. Yuengling’s Ice Cream also is also allocating funds for the expenses associated with a planned public offering of its shares under Regulation A+ of the JOBS Act of 2012.
“We are very excited that many of our customers, who already have been asking, will be able to become shareholders,” says Yuengling’s Ice Cream president, David Yuengling.
The current offering of up to $5 million is only available to accredited investors. Accredited investors that are interested in reviewing the offering materials, can do so on BANQ’s website.
Yuengling’s Ice Cream, based in Northeastern Pennsylvania, is a family owned business dating back to 1920. The 21 flavors of its super-premium ice cream are kosher, PA Preferred and adhere to the highest standards. Ever mindful of the community, the company donates at least three percent of its profits to charitable organizations.
Since its early 2014 launch, Yuengling’s Ice Cream has seen record growth. Initially selling out its first three months’ supply in just two weeks due to high demand, the company surpassed its three-year sales goals in the first year on the market. In its first two years since returning to grocery store shelves, national syndicated data confirmed that the brand is up 110 percent in dollar sales over the prior year. The super-premium ice cream is now available in 22 states from Ohio and West Virginia in the west, to Maine, Massachusetts and Vermont in the east, and Georgia and the Carolinas in the south.