Wells Enterprises employees earn an average salary of $58,331 in 2023, with a range from $34,000 to $97,000. Those seem to be the two areas that are really driving the ice cream category.. Founded in 1913 by Fred H. Wells, Wells Enterprises produces more than 150 million gallons of ice cream per year at two manufacturing plants in Le Mars and distributes product in all 50 states. Home; Our Company; Products/Services; Locations; Gallery; Testimonials; Blog; Contact Us; Contact US. By 2006, Wells had become a billion-dollar company with a national reach. [13], On 7 December 2022, the company announced its acquisition by Ferrero Group, an Italian manufacturer.[14][15]. LE MARS, IOWA Wells Enterprises, Inc., the third-largest ice cream manufacturer in the United States, has acquired Fieldbrook Foods from Arbor Investments. It seems you've been gone for a while. So we are playing to both trends: the permissible indulgence trend as well as the health trend. A commercial bank is a financial institution that accepts deposits, offers checking and savings account services, and makes loans. 1 ice cream company, says Mike. The final list ranks the 500 companies. After graduating from college in 1981, he worked in sales in Omaha before returning to Le Mars, where he was named director of retail sales and transportation and, later, executive vice president of that department. Either way, Wells said he knew the company needed an outside suitor as it continued to expand. This article may not be posted online or reproduced in any form, including photocopy, without permssion from the publisher. The estimated salary at Wells Enterprises, Inc. ranges from approximately $38,806 per year for Packer to $133,020 per year for Sales. Our goal is to be the No. The Ferrero Group has announced plans to acquire Wells Enterprises and its operations, bringing together ice cream experts and confectionery champions. Like most other HNW cards, it carries no annual fee, and the perks extend the more you spend. Family and non-family management engaged in long discussions about how Wells could best position itself to grow and thrive in an increasingly competitive industry. 4,000 As of 2022. But through it all we've stuck to our roots. Wells Enterprises acquisition of Fieldbrook is part of the companys long-term growth strategy, said Michael C. Wells, president and chief executive officer of Wells Enterprises. The company is best known for its Blue Bunny brand of ice cream and frozen novelties, including chilly Blue Ribbon Classics, Halo Top, and the Fourth of July favorite, red-white-and-blue Bomb Pop. We have grown over the years, expanding from our signature Blue Bunny . During the visit, he said, Ferrero fell in love with the town. Wells Enterprises Inc. turns 99 this year, and it has plenty to celebrate. Wells Enterprises net worth Dec, 2022 Wells Enterprises, Inc. is an American food company and is the largest family-owned and managed ice cream manufacturer in the United States, based in LeMars, Iowa. Up to 5 Financing. Gary, Doug and Greg, who had been, respectively, CEO, co-president, and senior vice president of operations before they stepped down, still serve on the companys board of directors. Search over 700 Wells Enterprises, maker of the Blue Bunny ice cream brand, has ambitious plans to grow way beyond $1 billion in sales. Net Worth: What It Is and How to Calculate It, How Banking Works, Types of Banks, and How To Choose the Best Bank for You, The Private Bank By Invitation Visa SignatureCard Account Agreement. In 1988, Mike and his father, Fred, started shipping milk and ice cream from its facility in Omaha to a Wal-Mart store in Topeka, Kan., starting a business relationship between the two companies that continues today. Many people ask this question about the money Wells Enterprises makes from Facebook. Were excited for the future and growing our business together.. Wells had succeeded in making Blue Bunny a regional brand. Wells Enterprises Inc. turns 99 this year, and it has plenty to celebrate. In 1927 Fred H. Wells and his brother, Harry C. Wells, began a partnership to distribute ice cream in Sioux City, Iowa, located about 25 miles south of Le Mars. Private Banking vs. Wells, founded in 1913, is one . It built a new facility for its growing fleet of trucks used to deliver milk around Iowa and added new corporate offices. 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The restructuring of management and board was not a reflection on the leadership of the other family members, she says, but rather a reflection on the familys strength in embracing change and innovation. The process was pretty quick, and I heard back within a couple of weeks. Information about Wells Fargo's employee benefits. Like Wells, Ferrero has been aggressive in recent years, buying U.S. candy, chocolate and cookie manufacturers. Copyright 2012 by Family Business Magazine. Youre viewing 3 of 3 competitors. Initially, Mike Wells said, the two sides discussed a potential partnership that would allow Wells' ice cream makers to use Ferrero's brands. To help the company achieve that goal, family members restructured management and the board, putting the needs of the business first. "Every interaction is an opportunity to improve your relational skills.". The Wells Enterprises management team includes Mark Eganhouse (Vice President, Supply Chain) . [10][11][12], In 2009, at a time when due to changed ingredients, some ice creams fell outside the FDA definition of standardized Ice Cream (and started selling "frozen dairy dessert"), Wells' Dairy put a seal that said "Real Ice Cream" on all Blue Bunny products. The divestitures also marked Wells new focus on expanding nationwide sales of its core businesses, ice cream and frozen novelty products. Wanna follow Wells Enterprises's net worth? Mike Wells is CEO/Chief Engagement Officer at Wells Dairy Inc. See Mike Wells's compensation, career history, education, & memberships. Many people ask about the amount of money Wells Enterprises makes from Instagram. Recognizing an opportunity to take its business to the next level, it made two major investments. Rafael Nadal has withdrawn from the upcoming Indian Wells and Miami Open events due to a leg injury suffered at the Australian Open. Here are our top picks from Mountain Hardwear, Western Mountaineering, REI and more. [9] In 2008, Wells Enterprises launched the Blue Bunny Helmet of Hope Program in partnership with the Jimmie Johnson Foundation. Wells Enterprises's headcount grew by 5 people (0.39%) in the last . After graduating from college, he began working in quality control and production. In 2007, Mike was named CEO and president of Wells Dairy Inc. Gary, Doug, Greg and Dan Wells stepped down from their positions. Changes wont be saved until you sign up for an Enhanced Profile subscription. In fact, the slightly worse-than-expected Consumer Price Index (CPI) []. Wells Fargo offers themthe Private Bank By Invitation Visa Signature, which earns three points per dollar spent on travel, two for dining, and one point for all other purchases. Were the biggest employer here.. "Le Mars-based Wells Enterprises vaults to No. These include white papers, government data, original reporting, and interviews with industry experts. In 1928 Fairmont Ice Cream purchased the ice cream distribution system in Sioux City from the Wells brothers along with the right to use the Wells name. For high-net-worth individuals (HNWI), finding the right bank is of utmost importance. Though the main players in the ice cream industry, Like Wells, are privately held, making data hard to come by, Wells has previously stated the moves made the company the second-largest ice cream manufacturer in the country, behind Unilever. I had a couple of phone calls with different engineering managers. Mike and Doug continued focusing on their areas of responsibilities, and in 2005 they were named co-presidents. Theyre looking for things that are free-from, that meet the lifestyle needs and desires of the ever-changing millennial and now Gen Z consumer. ASP.NET Microsoft . They knew how to develop formulas and flavors, says Doug, and had a lot of fun coming up with the different combinations that made their ice cream so popular.. Find out what works well at Wells Enterprises, Inc. from the people who know best. Italy has captured the Ice Cream Capital of the World. "Ferrero's brands and reputation for world-class quality are a perfect match with what has made Wells so successful and we will be even better together going forward," Killeen said in a statement. Beyond surviving for nearly a century, the company has achieved an enviable record of growth. Wells is the second largest ice cream maker in the United States behind Unilever. Collectively, our family decided the best thing we could do for our business was to set it up for the future," Wells said, "with an ownership group that could and would invest behind it.. AADOM Radio-THE Podcast For Dental Managers podcast episodes, Risk and Reels: A Cybersecurity Podcast podcast episodes, All About Affordable NFTs podcast episodes, We Are The Gayers | A Buffy Podcast podcast episodes, The Lorehounds: A Mandalorian Podcast podcast episodes, The Not Ready for Prime Time Podcast podcast episodes, The Movie Roulette Podcast podcast episodes, I Watch More Movies Than You podcast episodes, The House That Screams Horror Podcast podcast episodes, Weird, Together: Watching the Latest in Indie Horror Films podcast episodes. Like some of you, we at MLR Media have been working remotely for months and consider ourselves fortunate that we are able to do so. In that environment, youve either got to go steal share or youve got to acquire it. We are a great example of a family business that protected the family by putting the business first, CEO Mike Wells says. 4.0. About this role: Wells Fargo is seeking a High Net Worth Branch Manager in Private Wealth as part of Wealth & Investment Management. On this Wikipedia the language links are at the top of the page across from the article title. Learn More Our Family of Brands In 2003 it built an ice cream manufacturing plant in St. George, Utah, with the capacity to run two production lines of packaged ice cream of different sizes. Wells is the U.S.s largest family-owned and -managed ice cream producer. This compensation may impact how and where listings appear. "Given the size and scale of the business and the unbelievable personal responsibility and time requirements, there just wasnt anybody in the next generation that had an interest in being involved in the day-to-day business," he said. The company has set a new sales record and reduced its debt. [5], In the mid-1980s the firm's North Plant in Le Mars was enlarged through the purchase of five adjacent lots. Wells also manufactures licensed brands The Cheesecake Factory At Home premium ice cream and Weight Watchers frozen novelties. For reprint information, contact bwenger@familybusinessmagazine.com. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Spring-time offerings bring limited-edition partnerships. A retired nurse who lives on the East Coast, she had never worked in the business. "High-net-worth individual" (HNWI) is a financial industry classification to denote an individual with liquid assets above a certain figure. Mike was in charge of demand, sales and marketing; Doug oversaw the supply side. As of January 2023, Wells Fargo is estimated to have a net worth of $365 billion, and these figures will continue to increase with time. What are perks and other benefits like at Wells' Dairy? Chase vs. Wells Fargo High-Net-Worth Accounts: An Overview, What Is Private Banking? The company, led by former Schwans Co. chief financial officer Robin Galloway, has been controlled by Arbor Investments since 2010. Sargeant and Hylton worked with the Family Business Center at Loyola University in Chicago, which had developed a webinar on reading financial reports. The council would provide opportunities for shareholders to raise questions, learn more about the business and how it functions, and nurture pride in the family legacy. We built our business with Wal-Mart one store at a time, says Mike. But, Hylton notes, Its not once and done. Wells Dairy entered a second period of ambitious expansion in the 1980s. In 1985, Wells employed 430 workers in Le Mars. The Iowa State Legislature dubbed Le Mars the Ice Cream Capital of the World in 1994. Two of the oldest and most well-known banks in the United States, JPMorgan Chase & Co. (JPM) and Wells Fargo & Company (WFC), each offer private banking services to account holders who maintain balances above certain thresholds. It's best known for its more than 500 Blue Bunny-branded ice cream and frozen novelty products (which come in more than 70 flavors). Wells Enterprises Construction Llc currently holds license 2705177537 (Residential Building (Rbc)), which was Inactive when we last checked. While entrepreneurs take pride in working long hours to build success, they often find it hard to create a self-care space. More:Can an Iowa company make low-calorie Halo Top 'ice cream' a tastier dessert? They need all of our assets. Wells is a distant third with about a 5% market share, yet over the past three decades it has managed to double its revenues every ten years. The stock has lost 7.38% in a year and fallen 60.56% in 2023. 2 ice cream producer in US after buying East Coast maker", "Wells' Dairy selling milk plant, will focus on ice cream", "Mexican company buys Wells' Omaha yogurt plant", "History of Wells' Dairy, Inc. FundingUniverse", Wells' Dairy to build new plant in Utah - Allbusiness.com - January 2002, "Blue Bunny ice cream plant closing its doors", "Blue Bunny Ice Cream teams up with NASCAR driver Jimmie Johnson for Helmet of Hope", "Blue Bunny Helmet of Hope grant recipients announced | Hendrick Motorsports", "Wells Enterprises to be acquired by Ferrero Group", "Ferrero Group to acquire Wells Enterprises, maker of ice cream brands Blue Bunny and Bomb Pop", https://en.wikipedia.org/w/index.php?title=Wells_Enterprises&oldid=1142050734, Manufacturing companies established in 1913, Articles with dead external links from February 2016, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 28 February 2023, at 06:57. The estimated hourly pay at Wells Enterprises, Inc. ranges from approximately $11.29 per hour for R&D Engineer to $29.29 per hour for Maintenance Technician.. Through three generations, the family grew the business from a small, milk distribution operation to a massive ice cream manufacturer, with brand names like Bomb Pop and Halo Top and factories in Nevada and New York. Chase vs. Wells Fargo High-Net-Worth Accounts: An Overview . Wells Fargo is a well-established institution over the years . In 2007 and 2008, Wells sold its cultured dairy and fluid milk business to Dean Foods and its yogurt business to Grupo Lala.[2][3]. New corporate offices were added in 1980, and Wells built new facilities for its growing fleet of trucks used to deliver milk around Iowa. With the completion of the second plant, Wells Dairy claimed the title of the worlds largest manufacturer of ice cream in one location. Really great medical, dental and vision benefits with the company. Fred H. Wells founded the family enterprise in Le Mars in 1913. In the 1950s, it built a new facility in Le Mars for manufacturing ice cream products; in 1963, it constructed a fluid milk processing plant. I have laid down my top five predictions for the benefit of enterprise and technology providers. . For security reasons we will end your session automatically in 03:00 unless you would like to continue working. The business has been vital to Wells' headquarters city, Le Mars, the rare Iowa micropolitan community that has not lost residents in recent years. The Wells familys commitment to preserving and growing its business, which included making bold changes in family management and the board of directors, has allowed it to gain a strong foothold in the hugely competitive ice cream industry. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. The three new directors had either run family businesses or sat on family boards, and each brought experiences, connections and new perspectives that would enrich Wells thinking in moving forward. When managing such large sums of money, even . You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. We . The popularity of their product encouraged Fred and his brother, Harry C. Wells, to set up a partnership in 1927 to distribute their ice cream in Sioux City, about 25 miles from Le Mars. Introducing A Difference You Can See. It was a critical time for the business. Can an Iowa company make low-calorie Halo Top 'ice cream' a tastier dessert? Financial terms of the transaction were not disclosed. Mike Wells said he became friends with Giovanni Ferrero, the company's executive chairman. The family business began modestly as Wells' Dairy in 1913, when Fred H. Wells Jr. bought a horse-drawn wagon and delivered milk in northwest Iowa. Meanwhile, those who actively trade stocks and concern themselves more with the brokerage side of a bank's business may be better off with JPMorgan Chase. All answers shown come directly from Wells' Dairy Reviews and are not edited or altered. [1] Wells produces the Blue Bunny brand, along with 2nd St. Creamery, Bomb Pop and several private label brands. Later, he was promoted to an executive management position in the supply side of the business. [8], In November 2007, Mike Wells was named CEO of Wells. After completion, the expanded plant covered the equivalent of one city block, with the first floor taking up 109,000 square feet (10,100 m2) and its second floor comprising 44,000 square feet (4,100 m2). 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