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ID NEWS: Schwan to buy Mrs. Smith's frozen dessert business

The Schwan Food Co., Marshall, MN, has agreed to acquire the frozen dessert business of Mrs. Smith's Bakeries. The purchase includes the Stilwell, OK, and Spartanburg, SC, manufacturing facilities, Mrs. Smith's Pet-Ritz, and related frozen dessert brands, foil press equipment in Pottstown, PA, Mrs. Smith's facilities in Suwanee, GA, and Mrs. Smith's frozen dessert inventories. Schwan will not purchase the frozen bread and roll business.

Schwan will pay approximately $240 million in cash for the businesses to Flowers Foods, Thomasville, GA, Mrs. Smith's parent company.

"This acquisition will bring new creativity and cutting-edge innovation to Schwan's product lines, as we move forward to double the company's size and reach," comments Lenny Pippin, president and ceo of The Schwan Food Co. "The 2001 purchase of Edwards Fine Foods and this acquisition demonstrate our commitment to the retail and foodservice categories."

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