Reddy Ice Expands Market Reach with Acquisition of Arctic Glacier, Enhancing Ice Distribution Services
Reddy Ice, LLC, one of the foremost manufacturers and distributors of packaged ice in the United States, has officially announced its plans to acquire Arctic Glacier, LLC. This development signals major strategic growth within the North American ice market, as Reddy Ice seeks to bolster its operational efficiencies and expand its geographic footprint into Canada and Mexico as well as enhance its service offerings in the United States. The terms of the deal remain undisclosed, but the merger is expected to set a new benchmark in the ice products sector.
Lonny Warner, the CEO of Reddy Ice, expressed his enthusiasm regarding the acquisition, stating, "We are proud to welcome Arctic Glacier to the Reddy Ice family. The combination of these two outstanding, complementary companies will allow us to increase operational efficiency across a diverse footprint in the US, Mexico, and Canada. Our vision centers on transforming global health, welfare, and quality of life by providing outstanding products and services to our customers."
Arctic Glacier has been a reputable name in the ice industry for over 140 years, known for providing premium ice products to a wide array of clients, including supermarkets, convenience stores, and industrial businesses. Annually, Arctic Glacier produces and delivers over 2.5 billion pounds of premium ice. The firm operates 77 facilities and distribution centers across the US and Canada, serving more than 70,000 customers. With this acquisition, Arctic Glacier aims to maintain its commitment to innovation and customer satisfaction while merging resources with Reddy Ice’s extensive distribution network.
Peter Laport, CEO of Arctic Glacier, highlighted the strengths of the new partnership, stating that this merger will enhance value for both companies and their customers. He mentioned, "This acquisition emphasizes the worth and effectiveness of our business, consistently focused on surpassing our customers' expectations. We are proud of our innovative ice solutions and the robust partnerships we have built over the years."
In a statement by Shawn Malleck, Chairman of the Board at SCI Capital Partners, the parent company of Reddy Ice, he acknowledged the acquisition as a significant opportunity for growth and value creation. Malleck emphasized that both companies share a common goal of delivering the highest quality products and services to their clientele. He noted, "The combined financial strength and operational proficiency will allow us to exceed customer expectations over the long term."
This acquisition will undergo a customary review process, including regulatory approvals, which may require Reddy Ice to divest some of its facilities to ensure compliance with antitrust laws. These divestments include four facilities and customer contracts in Washington, Idaho, and California, alongside various contracts within the Oregon and New York metropolitan areas.
As a leader in ice product distribution, Reddy Ice operates over 115 manufacturing plants and distribution centers across the US and Mexico. Known for its exceptional quality and customer service, it offers a variety of products, including Craft premium ice and Hydration services. This operational capacity ensures it reaches a diverse clientele, from retail giants to non-retail sectors like airlines and event services.
In conclusion, the acquisition of Arctic Glacier by Reddy Ice is poised to redefine market dynamics in the ice industry, combining strengths that will enhance service delivery and increase value for customers and stakeholders alike. Industry observers are eager to see how this merger unfolds in creating a more competitive landscape in North America’s ice product sector.
Lonny Warner, the CEO of Reddy Ice, expressed his enthusiasm regarding the acquisition, stating, "We are proud to welcome Arctic Glacier to the Reddy Ice family. The combination of these two outstanding, complementary companies will allow us to increase operational efficiency across a diverse footprint in the US, Mexico, and Canada. Our vision centers on transforming global health, welfare, and quality of life by providing outstanding products and services to our customers."
Arctic Glacier has been a reputable name in the ice industry for over 140 years, known for providing premium ice products to a wide array of clients, including supermarkets, convenience stores, and industrial businesses. Annually, Arctic Glacier produces and delivers over 2.5 billion pounds of premium ice. The firm operates 77 facilities and distribution centers across the US and Canada, serving more than 70,000 customers. With this acquisition, Arctic Glacier aims to maintain its commitment to innovation and customer satisfaction while merging resources with Reddy Ice’s extensive distribution network.
Peter Laport, CEO of Arctic Glacier, highlighted the strengths of the new partnership, stating that this merger will enhance value for both companies and their customers. He mentioned, "This acquisition emphasizes the worth and effectiveness of our business, consistently focused on surpassing our customers' expectations. We are proud of our innovative ice solutions and the robust partnerships we have built over the years."
In a statement by Shawn Malleck, Chairman of the Board at SCI Capital Partners, the parent company of Reddy Ice, he acknowledged the acquisition as a significant opportunity for growth and value creation. Malleck emphasized that both companies share a common goal of delivering the highest quality products and services to their clientele. He noted, "The combined financial strength and operational proficiency will allow us to exceed customer expectations over the long term."
This acquisition will undergo a customary review process, including regulatory approvals, which may require Reddy Ice to divest some of its facilities to ensure compliance with antitrust laws. These divestments include four facilities and customer contracts in Washington, Idaho, and California, alongside various contracts within the Oregon and New York metropolitan areas.
As a leader in ice product distribution, Reddy Ice operates over 115 manufacturing plants and distribution centers across the US and Mexico. Known for its exceptional quality and customer service, it offers a variety of products, including Craft premium ice and Hydration services. This operational capacity ensures it reaches a diverse clientele, from retail giants to non-retail sectors like airlines and event services.
In conclusion, the acquisition of Arctic Glacier by Reddy Ice is poised to redefine market dynamics in the ice industry, combining strengths that will enhance service delivery and increase value for customers and stakeholders alike. Industry observers are eager to see how this merger unfolds in creating a more competitive landscape in North America’s ice product sector.
Topics Consumer Products & Retail）
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