CNN Money reports that Blue Bell Creameries, the ice cream maker that has been shutdown by listeria contamination tied to at least three deaths, has found a billionaire investor to help it get back on its feet.
The company announced Tuesday that billionaire Sid Bass has become a partner. Bass, 73, is worth an estimated $1.7 billion, according to the latest estimate from Forbes. He has worked at his family’s investment firm his entire career, notably in its oil and gas holdings and the large stake it once held in the Walt Disney Co. (DIS)
Blue Bell was a leading ice cream brand in the southern U.S., but it had to recall all of its products in April after discovering widespread contamination by the listeria bacteria, which can survive at colder temperatures than most other deadly bacteria.
The business has been family owned for 108 years and does not release financial data. Estimates were that it was the nation’s fourth largest ice cream maker behind Nestle (NSRGF), maker of Dryer’s and Edy’s ice cream brands, Unilever (UL), which makes of Breyers and Ben & Jerry’s, and Wells Enterprises, which makes Blue Bunny.