Financial Advisor to Castanea Partners on Acquisition of Jeni’s Splendid Ice Cream
Castanea Partners, a middle-market consumer-focused private equity firm, hired Financo to facilitate a partnership with Jeni’s Splendid Ice Cream, a wholesaler and retailer of artisanal ice cream.
Jeni’s Splendid Ice Creams was founded in 2002 by James Beard Award-winning cookbook author Jeni Britton Bauer. Britton Bauer’s ahead-of-the-trend vision-using whole ingredients and dairy from grass-pastured cows, rather than synthetic flavorings and commodity ice cream mix-coupled with inspired flavors, sparked the artisan ice cream movement. At the time of the transaction, Jeni’s was a multi-channel retailer with 23 company-owned scoop shops, a robust e-commerce presence, and distribution in top groceries across the U.S.