Blue Bell president tells shareholders Bass’ $125M investment necessary to

By April 20, the company expanded the recall to include all products.

And customers aren’t the only ones who are eager for production to resume.

In his statement, Kruse outlined steps the company was taking to identify the source of the listeria contamination, sterilize the equipment and facilities, and prevent future contamination.

According to a letter obtained by the Wall Street Journal, Bass was given warrants to acquire one-third of the company before the loan matures in 2018. The bacteria was first tracked in March to its main Texas plant and later at its Broken Arrow facility.

Blue Bell recalled all of its products in April and shut down production after a deadly listeria outbreak. Unfortunately, the massive recall threatened to end the 108-year legacy.

“The additional capital will ensure the successful return of our ice cream to the market and our loyal customers”, said Paul Kruse, Blue Bell CEO and president, in a statement.

Mr. Kruse, in a letter to Blue Bell owners in May, had solicited financing from them to avoid bringing in an outside investor he said could dilute existing shareholders’ stakes.

Blue Bell on Tuesday announced that Mr. Bass had made a “significant” investment in the frozen-desserts maker, but terms weren’t disclosed. Estimates were that it was the nation’s fourth largest ice cream maker behind Nestle, maker of Dryer’s and Edy’s ice cream brands, Unilever, which makes of Breyers and Ben & Jerry’s, and Wells Enterprises, which makes Blue Bunny. Blue Bell is the quality leader in the ice cream industry. “We believe quality is the principle attribute that ensures the success, growth and longevity of a business”.

The announcement was a hopeful sign, but no definite date has been set for the return of Blue Bell to store shelves.