Dean Foods acquiring Friendly's Ice Cream

Acquisition will add about 6 cents per share earnings accretion in 2016 and fills "retail ice cream void" in Dean Foods' footprint.

Dean Foods Co. announced May 9 that it has agreed to acquire the Friendly's Ice Cream LLC manufacturing and retail ice cream business from Friendly's Restaurants, a leading ice cream and dining brand in the Northeast U.S., for $155 million in cash.

Founded in 1935, Friendly's Ice Cream, with $166 million in net sales in 2015, produces popular packaged ice cream and other frozen dessert products, including single-serve sundae cups, novelty items, cakes and rolls. Friendly's distribu

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