Texas Investment Needed To Save Blue BellHarvill Industries
The recent Blue Bell Creameries investment, a max of $125M, from Texas billionaire investor Sid Bass is mandatory in order for the company to begin operating again. Blue Bell Creameries executive members recently confirmed this in letter issued to shareholders. The shareholder update letter indicates that Blue Bell Creameries wasn’t able to gather enough capital from existing shareholers, so in order to get operations up and running again the company had to make the decision look for investment from an outside source. They company is happy with the investment from Sid Bass because he is a individual with the intent and ability to offer the required capital in a timely manner. Earlier this year Blue Bell Creameries made the decision to enact a voluntary recall of all of their manufactured products due to a sudden breakout that contaminated the company’s products with listeria. Not only did Blue Bell enact a voluntary recall, but the company also halted production of all products at all facilities, in order to maintain integrity and a certain level of product quality. Since the recall began, Blue Bell has accepted roughly 8 million gallons of recalled ice cream and dairy products. Hopefully Blue Bell Creameries, a Texas based company, can restore it’s reputation and land back on their feet with the help of fellow Texan Sid Bass.