Blue Bell Creameries, an ice cream company based in Texas, received the much-needed investment from Texan billionaire Sid Bass.
According to NY City.Today, Blue Bell Creameries encountered major problems this year. The company was forced to recall almost all of its products in the market after a listeria outbreak. The said outbreak was blamed on some of Blue Bell's products. The company was forced to stop production and let go of more than 1,000 employees. The company is set to restart production at its Alabama facility. The company is expected to resume selling its products once its factory has produced a sufficient stockpile.
Dallas News reported that Sid Bass grew his inheritance by investing in oil, gas and Disney stocks. Bass' investment was announced by Paul Kruse, Blue Bell's Chief Executive Officer and President.
The CEO would not divulge how much additional capital Bass infused to Blue Bell Creameries but he said that the amount is sufficient enough to put their products back in the market according to Newser.
The company has not given any specific dates as to when they will be able to sell their products again. The Blue Bell brand and its ice cream are quite well known in Texas.
Blue Bell Creameries manufacturing sites are scattered in several states including Texas, Arkansas and Oklahoma. Last April, several people became ill with listeria in which three of them died. The resulting investigation points the blame to a number of Blue Bell products. The company was ordered to recall all of its products to prevent further occurrence of listeria.
The Texan billionaire's decision to invest in Blue Bell Creameries is seen by some as an act of philanthropy while others see it as a smart investment move. Bass reportedly inherited his money from his family's oil business. In 2014, Bass was listed by Forbes as among the top 300 richest Americans.
