ATLANTA, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Aureus, Inc. (OTC PINK: ARSN), a food brand development company focused on acquiring and growing well-established food brands, announced today that the Company has executed a Binding LOI to acquire 67% of Yuengling’s Ice Cream Corp. This ownership stake of Yuengling’s Ice Cream Corp. is in addition to the 33% of Yuengling’s Ice Cream Corp under contract as part of the purchase of YIC (Yuengling’s Ice Cream Online).
The transaction will be executed in three tranches, of which 5.5% has already been acquired. The second ownership stake of 18.5% will be acquired in the next few weeks, with the final tranche within 60 days following the closing date.
Upon completion, Aureus management will obtain a majority of the board of directors and assume the position of executive officers of Yuengling’s Ice Cream Corp., where they will assist in the day-to-day management, operations, and finances of the company.
“We are pleased to announce that, in addition to our ongoing acquisition of Yuengling’s Ice Cream Online Distributors (YIC), we have just executed a binding LOI to acquire the balance of the ownership in Yuengling’s Ice Cream Corp.,” stated Everett Dickson, CEO of Aureus, Inc. “I can’t speak highly enough of the president of David Yuengling, the president of Yuengling’s Ice Cream Corp, and the team at YIC. We have enjoyed working with them, and are looking forward to collectively growing this business together. Our ownership position in the company provides us the ability to launch our strategic marketing plans and new products for the brand. We are humbled to continue the 65-year-old Yuengling Family tradition of marketing and delivering a premium ice cream brand that truly stands the test of time.”
David Yuengling was quoted as saying “We are looking forward to working with Aureus to continue to grow and expand the Yuengling’s Ice Cream Brand.”
About Aureus, Inc.
The management and ownership recently changed hands. The new focus in on acquiring specific assets in and related to the food industry.
About Yuengling’s Ice Cream
Developed by American businessman, Frank D. Yuengling, as a dairy business to help support the Yuengling family brewery during the 1920s Prohibition period, Yuengling’s Ice Cream has a strong tradition of making exceptional gourmet ice cream products in central Pennsylvania. The fan-favorite brand continues advancing its legacy and its renowned dairy quality, by using locally sourced dairy ingredients that contain no added hormones.
David Yuengling and Rob Bohorad revived the brand in 2014 and an American classic was reborn. In 2018, positioned for the brands next stage of development, Yuengling’s Ice Cream forged a partnership with YIC - Online Distributors, to distribute the iconic ice cream brand online. Today, Yuengling’s Ice Cream is delivered directly to the doorsteps of its consumers across the nation.
The Yuengling’s Ice Cream Corporation - as it’s been since 1935 - and YIC - Online Distributors LLC are stand alone, and separately owned and run companies from D. G. Yuengling and Sons, Inc Brewery.
Safe Harbor Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Aureus, Inc. and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For More Information
Contact & Media Inquiries:
Aureus@gmail.com
404.885.6045
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