HERMITAGE, PA. — Joy Baking Group, a 104-year-old ice cream cone maker, has acquired Novelty Cone Co., a Pennsauken, NJ-based ice cream cone maker. Financial terms of the transaction were not disclosed.
Joy Baking Group and Novelty Cone previously have collaborated on supply chain and manufacturing initiatives, and both companies offer a similar range of ice cream cones in their product portfolios, including cake cones, sugar cones and waffle cones. Following the acquisition production and distribution at Novelty Cone’s plant in New Jersey will be transitioned to Joy Baking’s facilities in Hermitage, Pa., and Flagstaff, Ariz., the companies said.
“With over 200 years of combined cone baking experience between Joy Baking Group and Novelty Cone Co., this acquisition will provide a broader range of items and enhanced customer service to a larger base of customers,” said David George, president and chief executive officer of Joy Baking Group. “The addition of Novelty Cone’s strong and growing group of customers, particularly in the northeastern US, is highly complementary to our facility locations and distribution network. This transaction further strengthens our position and leadership in the market for ice cream cones.
“Beyond the strategic nature of this acquisition, it is particularly significant because it demonstrates our desire to continue investing in the specialty baking industry. We are excited to begin working with Novelty Cone’s customers to provide our full suite of products and industry-leading customer service.”
Headquartered in Hermitage, Joy Baking is the largest ice cream cone company in the world, baking more than 2.5 billion cones a year at its seven facilities across the United States and Mexico. The company also manufactures ice cream sandwich wafers and baked inclusions. The company’s products are sold in retail grocery, restaurant chains, ice cream shops, and to branded ice cream novelty producers throughout the United States and Canada.